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Let Y(sub-1) be the sales during month t (in thousands of dollars) for a photograph studio, and let P(sub-t) be the price charged for the portraits during month t. The data are included in the file provided below.
Use regression to fit the following model to these data:
The equation indicates that last month's sales and the current month's price are explanatory variables. The last term, e(sub-1), is an error term.a. If the price of a portrait during month 21 is $10, predict the studio's sales in month 21.b. Does there appear to be a problem with autocorrelation of the residuals?
Make any necessary corrections to your work based on facilitator's feedback and write: A paragraph describing the dependent variables of interest and children's anxiety as measured by the RCMAS.
using the definitions from problem 6 define the following terms and how they relate to each othera. total variationb.
The hypothesis is that the average number of customers served per hour is 24 or less against the alternative hypothesis that the mean number of customers waiting is greater than 24.
Find the probability that a given mouse will live. a. more than 32 months b. less than 28 months c. between 37 and 49 months.
Confidence Intervals around a Population Parameter Never preferred but is accepted as a Trade off for cost and/or time. Dataset Accuracy Confidence Example Preference?
Predict the number of accidents per year (to the nearest whole number) for a person whose age is 45 and who works 42 hours per week.
A retailer wants to estimate with 99% confidence the number of people who buy at his store. A previous study showed that 15% of those interviewed had shopped at his store.
A laboratory scale is known to have a standard deviation of = 0.001 gram in repeated weighings. Scale readings in repeated weighings are normally distributed, with mean equal to the true weight of the specimen.
A bag contains 4 red marbles, 3 blue marbles, and 7 green marbles. If a marble is randomly selected from the bag, what is the probability that it is blue?
The flashlight batteries produced by one of the northern manufacturers are known to have an average life of 60 hours with a standard deviation of 4 hours. Use Chebyshev's theorem to answer the following questions.
What might lead minority students to take more or fewer high school math courses? Would these same factors influence success in college?
The quality control manager at a lightbulb factory needs to determine whether the mean life of a large shipment of lightbulbs is equal to the specified value of 375 hours.
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