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Part OneYour task is to identify a business problem which can be solved by one of the following techniques: Decision theory, regression, forecasting, inventory and linear programming. Prepare a report to the management stating clearly the problem you are tackling, the data source, the technique applied, the optimal solution (with process reaching the solution, tables and graphs), the appropriate course of action and recommendation. If you are not working in a business organisation, your case study can be a report on forecasting (e.g. sales forecasting, market share, etc, etc) or a regression estimation for a listed company . We will have a discussion on topic selection in Week 1 tutorial. Part One of Case Study 2 will be submitted in two copies: one copy for marking and the second copy for your peer to be used for their Part Two of the Case Study 2. No submission extension is granted. The Part One will be marked according to whether the quantitative technique applied appropriately and whether the report is prepared properly. Part Two You are the manager who received the report (from Part One). With the experience gained from Case Study 1, your task is to evaluate the report from a manager's perspective for whether the report finding serve the objective of the report purported; whether the quantitative technique achieved what supposed to be, whether recommendation can be implemented.
The sample to be 99% sure the sample mean is with 1 semester hour of the population mean for all students at this college?
What do confidence intervals represent? What is the most controllable method of increasing the precision of or narrowing the confidence interval? What percentage of times will the mean, or population proportion, not be found within the confidence ..
In a distribution of sentence lengths in months like the following: 6, 12, 10, 18, 24, 360; which statistic would a researcher not want to report?
In this context, describe the Type I error possible. How might such an error impact ABI Insurance? In this context, describe the Type II error possible. How might such an error impact ABI Insurance?
If person is selected at random and tested, determine the probability of that person having an IQ score between 85 and 115. Make use of EXCEL to help determine the probability.
Is there evidence to suggest that the training course helps out sales people?
Suppose the joint probability density function of X and Y is uniform in the plane square with corners (0,0), (0,3), (3,0) and (3,3). Find the probability of X > 1 or Y > 1. Find the probability of X + Y
Suppose that people's heights (in centimeters) are normally distributed, with a mean of 165 and a standard deviation of 6. We find the heights of 40 people.
Use three decimal places in your answers for this problem. The following table was collected.
The standard deviation in cash bonuses is $15,618 and the standard deviation in annual pay is $28,077. The estimated slope of best fitting line relating x and y is?
If you must estimate the population mean within 2 days, how many sales representatives in the pharmaceutical industry should you sample? Use the 90% confidence interval.
Conduct a study to examine the relationship between party affiliation and gender. You find the following:
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