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According to a recently conducted survey, 90% of all drivers in Trinidad and Tobago claim to consistently driver over the legal speed limit. Assume that this result is true for the current population of the Cayman Islands. Find the probability that, in a random sample of 20 drivers:
1. None of them drive over the legal limit
2. Exactly 5 of them drive over the legal limit
3. At least 2 of them drive over the legal speed limit
4. 19 of them DO NOT drive the legal limit
5. Find the mean
6. Find the variance
Build a scatter plot, Find the value of the linear correlation coefficient r, and find the critical value of r using α=0.05. Determine whether there is sufficient evidence to support a claim of a linear correlation between the two variables.
Write a one-page report to Ms. Gupta presenting your conclusions regarding the market performance of Brand 1.
In what situations might you use probability as a manager to approach business-related problems? What are the advantages to using probability concepts in business decisions?
To get the best deal for CD player, Jessica called eight appliance stores and asked the cast of a specific model. The prices she quoted are listed below. Show all work. Compute the standard deviation.
Describe the purpose of the link function of a GLM. What is the identity link? Explain why it is not often used with binomial and Poisson responses.
During the past six months, 73.2% of US households purchased sugar. Assume that these expenditures are approximately normally distributed with a mean of $8.22 and a standard deviation of $1.10. 80% of the households spent more than what amount?
Perform a proper analysis. Describe your null and alternative hypothesis, report the p-value. What is your conclusion?
Develop a multiple regression model with categorical variables that incorporate seasonality for forecasting sales using the last three years of data in the Excel file New Car Sales.
Calculate a 90% CI for the population proportion of Americans who believe there is intelligent life on other planets.
The current advertising campaign for a major automobile brand would be changed if fewer than 70 percent of the consumers like it.
When we carry out a goodness of fit chi-square test, the expected frequencies are based on the alternative hypothesis
Using the appropriate statistical procedure on the SPSS, test the between group means for a significant difference.
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