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Bill is doing a project for you in the marketing department. In conducting his analysis regarding consumer behavior and a new product that has come out, he tells you the correlation between these two variables is 1.09. What is your response to this analysis?
A psychology professor is interested in whether implementing weekly quizzes improves student learning. She decides to use the weekly quizzes in one section of her introductory psychology class and not to use them in another section of the same cou..
We desire to test at 0.05 level of significance whether modification increases the life of battery. What is our decision rule? Reject null hypothesis if calculated t is less than 1.96.
Determine whether the description corresponds to an observational study or an experiment. Thirty university students are divided into two groups, one group receives free tutoring in mathematics, the other does not.
Determine the average and the variation for Brand 1 price, sales market share, and total revenue, using the weekly market survey data (descriptive statistics).
Ski Resorts of Vermont, Inc. is considering a merger with Gulf Shores, Inc. of Alabama. The board of directors surveyed 50 stockholders concerning their position on the merger.
A large internet retailer, is studying the lead time (elapsed time between when an order is placed and when it is filled) for a sample of recent orders. The lead times are reported in days.
The manager is concerned that sales are slipping, after taking into account the average value of sales for four consecutive Saturdays being $4800.
What is the price of an extra dollar of c1 in terms of c2 and what is the equilibrium price? Output and profits of the low cost gold mine?
A flour mill produces flour in small bags before distributing them to wholesalers. The average weight of each bags is 8 kg with a standard deviation of 0.5 kg.
A random sample obtained from a population has a mean of µ=100 and a standard deviation of σ = 20. The error between the sample mean and the population mean for a sample of n = 16 is 5 points and the error between a sample men and population mean ..
Use a 0.05 significance level to test the claim that these credit rating are from a population with a mean that is equal to 700.
Do not forget to test for any applicable difference in means (Tukey implies).
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