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Marketing and Consumer Behavior
Marini's candy store on the beach boardwalk in Santa Cruz sells candy in bulk. Customers can mix products from over 100 barrels. The probability distribution for the number of pounds of candy purchased by a randomly selected customer is shown below.
a. Verify that this is a valid probability density function.
b. Find the probability that the next customer buys at most 2 pounds of candy.
c. Find the probability that the next customer buys more than 1 pound of candy.
d. Suppose the next customer buys at most 1.5 pounds of candy. What is the probability that she buys at most 0.5 pound of candy?
The probability that house sales will increase in the next 6 months is estimated to be 0.25. The probability that the interest rates on housing loans will go up in the same period is estimated to be 0.74. The probability that house sales or intere..
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Is there a correlation between the two stocks? Explain.
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List an example of Two quantitative variables that are likely to have a positive linear relationship, Two nominal variables that are likely to be independent.
At a large assembly line, the manufacturer reassigns employees to different tasks each month. This keeps the workers from getting bored by endlessly repeating the same task. It also lets them see how the work done in different stages must fit toge..
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