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Given the following data on Asian and European Share of U.S. Light Truck Sales(1990-2003):
Year t Percent1990 1 16.41991 2 17.11992 3 14.31993 4 13.71994 5 14.21995 6 13.61996 7 13.61997 8 15.41998 9 16.21999 10 18.42000 11 21.22001 12 23.12002 13 23.92003 14 26.6Source: Detroit Free Press, November 19, 2003. p.1A.
(a) Plot the market-share data. (b) Describe the trend (if any) and discuss possible causes. (c) Fit three trends (linear, exponential, quadratic). (d) Which trend model is best, and why? If none is satisfactory, explain. (e) Make a forecast for 2004 by using a trend model of your choice or a judgment forecast.
Are the following statements a valid pair of null and alternative hypothesis?
At the 0.05 level of significance, using the critical value approach, is there evidence to suggest that the new mathematical model has improved process performance?
Find the probability that the mean age of those doctors is less than 53.00 years. Assume that the variable is normally distributed.
Bivariate data for the quantitative variables x and y are given in the attached. These data are plotted in a scatter plot. Sketch an approximation of at the least-squares regression line for the data.
Use the hypergeometric formula to find this probability. The lottery commission also pays if a contestant matches 4 or 5 of the 6 winning numbers. Hint: Divide the 44 numbers into two groups, winning numbers and nonwinning numbers.
The budgeting process for a Midwestern college resulted in expense forecasts for the coming year (in $ millions) of $9, $10, $11, $12, and $13. Since the actual expenses are unknown, the following respective probabilities are assigned: .3, .2, .25..
What is the arithmetic mean selling price?
Find the probability distribution for X defined as the number of defective items drawn (Hint: You have to find P(X=0), P(X=1) and P(X=2). You may have to use both multiplicative and additive rules to find P (X=1)).
Contruct a confidence interval for the proportion of non-fatal accidents that involved a cell phone at a 95% confidence interval.
Average Precipitation For the first 7 months of the year, the average precipitation in Toledo, Ohio, is 19.32 inches. If the average precipitation is normally distributed with a standard deviation of 2.44 inches, find these probabilities.
A researcher has reason to believe that, for an experiment with 50 points, a 95% prediction interval would be of width 4. If the researcher wishes to run a more precise experiment that will result in a 95% prediction interval of width 2, then the ..
Perform the necessary calculations to determine which of the two mutual funds is better. Which one should you choose to maximize the expected value?
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