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Market researchers use it by correlating product attribute ratings with a dependent measure such as overall satisfaction. They then rank the product attributes to determine which attributes are the most important. They call this Key Driver Analysis.
1) How would you respond if someone told you that the correlation between education level and salary was 1.27?
2) What if someone told you that this correlation was .462 dollars?
Women's heights are normally distributed with mean 63.6 and standard deviation of 2.5 in. A social organization for tall people has a requirement that women must be at least 70 in tall.
What is the probability that more than one machine is in the system? Probability that more than two are broken and waiting to be repaired or being serviced? More than three? More than four?
Use this information to make a 95% confidence interval to evaluate true average number of copies made each day at this company.
Assuming that the process is operating correctly according to specifications, what is the probability that a sample will indicate that an adjustment is needed?
In order to estimate the proportion of families who prefer female baby-sitters to male baby-sitters with an error of at most 8 percentage points and with at least 95 percent confidence, how large a sample should be taken?
Compute the 95% confidence interval for the proportion of adults who are planning to buy a new car in the next 6 months.
Using six-step critical value approach, at the 0.05 level of significance, is there evidence that population mean delivery time has been increased below previous population mean value of 25 minutes?
The lifetime of a color television picture tube is normally distributed with the mean of 7.8 years and a standard deviation of 3 years.
As part of this trial, they want to find out whether there is a difference between effectiveness for women and for men. At = .05, what is the test value?
Perform the indicated test of hypothesis. HO: M 7, given x= 0.01, N=25, Xbar = 7.019 and SD is =.1681. Assume the sample is selected from a normally distributed population.
Calculate the population mean and population standard deviation.
Discuss an example from every day life, your professional experience, personal life or sports where two variables are positively correlated and why; discuss a second example where two variables are negatively correlated and why.
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