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A bank has two incentive plans:
a) Cash back when the consumer makes an online purchase;
b) Cash back when the consumer makes a purchase at a clothing store.
The bank doesn't know whether consumers would shop online more than at clothing stores.
Develop null and alternative hypotheses to help the bank determine which option would provide the best incentive to consumers.
If a technical breakthrough occurred that raised the profit per unit of X 1 to $3, would this affect the optimal solution?
If the agency is risk neutral, use a decision tree to determine its best course of action.
A jeweler at Tiffany & Company computes the value of the linear correlation coefficient for pairs of sample data consisting of Tiffany prices for gold wedding rings and the corresponding prices at a discount store.
Using least squares regression analysis, what would you estimate demand to be for each month next year?
A random sample of 20 single men was asked if they would welcome a woman taking the initiative in asking for a date. What is the probability that:
10 cartons are taken at random from an automatic filling machine.The mean net weight of the carton is11.8 kg and standard deviation of 0.15kg. Does the sample mean differ significantly from the intended weight of 12kgs?
Indicate which would be the independent variable and which would be the dependent variable in each of the following:
You are the designer for your company's web site. You have data to indicate that the mean download time for the homepage is 5.8 seconds and that the standard deviation of download time is 2.1 seconds.
Test either there is any difference among the given variable also what does the Levene's Test shows. What variable is presented in this table.
Let X be a random variable uniformly distributed on the interval (0,1). Let Y be a new random variable defined as Y = X2. What is the probability density function of Y given by?
A large tank of fish from a hatchery is being delivered to a lake. The hatchery claims that the mean length of fish in the tank is 15 inches, and the standard deviation is 2 inches. A random sample of 36 fish is taken from the tank.
What is the probability that a simple random sample of 40 male graduates will provide a sample mean within $10,000 of the population mean, $168,000 (to 4 decimals)?
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