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For each of the following, indicate whether or not you would expect it to have a strong seasonal component and why.
a. Sales of colorful wrapping paper, recorded monthly
b. The number of air travelers to Hawaii from Chicago, recorded monthly
c. The S&P 500 stock market index, recorded daily. Assume that the stock market is efficient, so that any foreseeable trends have already been eliminated through the action of large investors attempting to profit from them.
They are thinking of introducing a new flavour, maple-marshmallow Frumpies, and want to know whether children will prefer the new flavour to the old one. Design a completely randomized experiment to investigate this question.
A case-control study of relationship between liver cirrhosis among both non alcoholics and alcoholics. Describe whether smoking is confounder.
Describe a business situation that you have had or might face that will benefit from the use of confidence intervals?
Mean threshold values and standard deviations for the three groups are given below. Normal probability plots showed the three populations were well approximated by the Normal distribution.
What proportion for smoking teenagers think their peers care a lot about keeping their weight down?
Determine the expected shape of distribution of sample mean? Compute the likelihood of choosing a sample with mean of at least $112,000?
What is the probability of finding 1 or more children with chronic bronchitis in a population where the incidence rate of chronic bronchitis is 10% (like the one above?)
Use given data to create the unbiased point estimate of 12σ'> 2 of percentage of termites that are minor workers.
Assume that flight times from SAN to ATL are exponentially distributed with a mean of 4.5 hours and a standard deviation of 0.2 hours. Assume that you must fly from SAN to ATL weekly for the lucrative consulting engagement for one year (52 flight..
One of the main measures of the quality of service provided by any organization is the speed with that responds to customer complaints. A large family-held department store selling furniture and flooring, including carpet, had undergone a chief ex..
Determine the optimum solution for the problem.
A straight rod is formed by connecting three sections A, B and C, each of which is manufactured on a different machine. The length of section A, in inches has a normal distribution with mean 20 and variance 0.04.
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