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Can you think of an example where regression analysis can be used? How is regression analysis being used in a retail environment, or how should it be used? Can you think of some retail examples specifically related to strategy formulation and implementation?
f x has a normal distribution with mean µ=15 and standard deviation σ= 3, describe the distribution of x values for sample size n, where n = 4, n = 16, and n = 100. How do the x distributions compare for the various sample sizes?
Test the claim that for the adult population of one town, the mean annual salary is given by μ = $30,000.
A biologist has found the average weight of 12 randomly selected mud turtles to be 8.7 lb with standard deviation 3.6 lb. find a 90% confidence interval for the population mean weight of all such turtles.
Recent actual and forecasted data for product XYZ is given in the following table.
A box contains 9 tickets numbered 1 to 9 inclusive. If 3 tickets are drawn from a box one at a time, find the probability that they are alternative after (1) odd, even, odd or (2) even, odd, even.
Describe appropriate treatment means μ1, μ2 and μ3. After that Test for statistically significant differences between these treatment means. Set α = 0.05.
Provide an example of three events that would be mutually exclusive. Are these events also exhaustive? Then, give an example of three events that would be exhaustive. Are these exhaustive events also mutually exclusive?
The MBASAL file contains the salary offer (in thousands of dollars) received by each member of a sample of 50 MBA students who graduate from the graduate school of management at Rutgers
A social psychologist is studying college students attitudes toward drinking and driving. He is specifically interested in attitude change as a result of years in college and of viewing the consequences of drinking and driving accidents.
Draw the graph of the regression line on the same plot as the scatter diagram above.
When is a regression equation used? What terms describe the fit of a regression equation to the data? What is the importance of the coefficient of determination (r2)?
A monthly budget of $100,000 is available for both advertising and purchase of the fragrances. Develop and solve a linear optimization model to determine how much of each type of perfume should be produced to maximize the net profit.
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