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A local tire dealer wants to predict the number of tires sold each month. He believes that the number of tires sold is a linear function of the amount of money invested in advertising. He randomly selects 6 months of data consisting of tire sales (in thousands of tires) and advertising expenditures (in thousands of dollars). The equation of the least squares line is, y = 3 + 1x.
Provide a managerial interpretation of the estimated slope.
If wages were increased by $1.00, what is the expected effect on the number of complaints received per employee? How can you tell?
One environmental group did a study of recycling habits in a California community. It found that 73% of the aluminum cans sold in the area were recycled. (Round your answers to four decimal places.)
Compute a 95% confidence interval for the population proportion of positive drug tests. Explain why is the normality assumption not a problem despite the very small value of p.
Construct a 95 percent confidence interval for the true mean.
How many individuals will it need to sample to achieve this level of accuracy and confidence?
Interpret values of b1, b2, b3 and b4 in this estimated regression equation.
Consider a binomial distribution with 15 identical trials, and a probability of success of 0.5. Find the probability that x = 2 using the binomial tables
Explain the applications of statistics in your own field (Business Administration/Accounting) - Construct a stem and leaf display.
The winning team's score in 13 high school basketball games was recorded. If the sample mean is 54.3 points and the sample standard deviation is 11.0 points, find the 98% confidence interval of the true mean.
Cores on two tests have a bivariate normal distribution; and that correlation of 2 scores is 0.8. Determine the probability that sum of the student's scores on 2 tests will be greater than 200?
At 95% level of confidence, can we conclude that the babies using the Gibbs product gained less weight?
During the war with Iraq in 1991 the Terraco Motor Company produced a lightweight, all terrain vehicle code named "J99 Terra" for the military. The company is now planning to sell the Terra to the public.
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