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A marketing analyst would like to have two brands of tea packs rated by consumers.
a) Explain how the marketing analyst can use dependent samples to collect the data.
b) Explain how the marketing analyst can use independent samples to collect the data.
Elucidate this data use an appropriate statistical test to explain whether the population mean TV "on" time has declined in the past decade.
What is the purpose of sampling? What are some concerns and dangers of sampling? How important is the sample design to data validity? Explain.
If you were using the relative frequency of an event to estimate the probablility of the event, would it be better to use 100 trials or 400 trials according to the law of large numbers?
Do time series models rely heavily on cause and effect relationships between variables in order to ensure accurate predictions?
Is there evidence to suggest that the training course helps out sales people?
Using an appropriate statistical test determine if there is a significant association between gender and satisfaction with the new initiative.
Which of the following statements is true regarding a nonparametric test? We assume that the data has been chosen from a normally distributed population
Some television stations attempt to gauge public opinions by posing a question on the air and asking viewers to call to give their opinions.
Paul has calculated the indifference probability for the lottery having a payoff of $160K with probability p and -$80K with probability (1-p) as follows:
List one unclear concept regarding regression and provide an example from your personal or work life where regression could be used to show a relationship between two variables.
Environmental Protection Agency (EPA) fuel economy estimates for automobile models tested recently predicted a mean of 24.80 mpg and a standard deviation of 6.2mpg for highway driving. Assume that a normal model can be applied.
Crystal Ball requires the following steps:
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