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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.
The probability that more than 6 planes arrive in the next minute is _____.
(a) Give a 95% confidence interval for the mean ARSMA score of Mexicans. (b) What assumptions does your condence interval require?
Compute the expected value of perfect information. Do you think it would be worth trying to obtain additional information concerning which scenario is likely to occur?
The branch manager of a pet supply store wants to study characteristics of customers of his store. In particular, he decides to focus on two variables
Interpret the estimated tolerance intervals and the confidence interval in the context of the situation related to the exercise.
According to an internet posting, 80% of adults enjoy drinking beer. Choose a group of 3 adults at random. The probability that none of them enjoy drinking beer is:
You attempt a 50 item (n = 50) true-and-false exam. You did not study for the material and your attempt to answer any item is a guess, with a 50% chance that you will get any item correct. You need a score of 30 or better to pass the exam.
Let's treat race of offenders as the independent variable and race of victims as the dependent variable. If we first ignore the independent variable and try to predict race of victim, how many errors will we make?
Plot this 20 maxima again on normal probability paper derive the theoretical distribution function for this 20 maxima and draw the CDF in the same plot.
using a significance level of .05, test the hypothesis that the intake of linoleic acid in this group is lower than that of the general population. Also, compute a p-value for the hypothesis test.
Assume a very large normally distributed population of scores on a test with mean 77 and standard deviation 7.
a) Find the 95% confidence interval for the population mean based on the 37 patients who remain after you drop the outlier. b) Compare your interval in (a) with your interval from Exercise 18.32. What is the most important effect of removing the ou..
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