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A marketing agency has developed three vacation packages to promote a timeshare plan at a new resort. They estimate that 20% of potential customers will choose the day plan, which does not include accommodations; 40% will choose the overnight plan, which one night at the resort; and 40% will choose the weekend plan which includes two nights.
a) Find the expected value of the number of nights potential customers will need.
b) Find the standard deviation of the number of nights potential customers will need.
Calculate the expected value and standard deviation of the value.
A researcher selects a random example of college students and measures number of hours they spend watching television per week and their grade point average.
Are there any formulas or graphs for Correlational statistical procedures and Quantative research methods? I'm writing a paper and would like to throw in a few examples with explanation.
Final scores averaged 66 for the treatment group; the SD was 21. For the control group, the figures were 59 and 20. What do you conclude?
You're a risk manager of ABC company and you are reevaulating your insurance contract. Your insurer has informed you that the expected value of frequency per month for ABC is 2.43.
Seventy million pounds of trout are grown in the U.S. every year. Farm-raised trout contain an average of 32 grams of fat per pound, with a standard deviation of 7 grams of fat per pound.
How does multilinear regression analysis apply to a profession? Specify the dependent value and the set of predictors. Where would you get the data?
Why do you think it is significant to describe both the measure of central tendency and the measure of dispersion when talking about a data set?
Is there evidence of a difference in the median performance between the two methods? (Use x = 0. 05).
Develop a linear regression equation for these data and forecast how much money Robert will win if he spends $30.
Find the product of the vector of state probabilities for the preceding period and the matrix of transition probabilities.
Construct the probability distribution for the value of a 2-card hand dealt from a standard deck of 52 cards (all face cards have a value of 10 and an ace has a value of 11).
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