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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). Based on the data set with 6 observations, the simple linear regression model yielded the following results. (X is advertising expenditure in thousand dollars and Y is tires sold in thousands): ∑X =24; ∑Y =42; ∑X2 = 124; ∑Y2 = 338; ∑XY = 196
Find the Intercept and slope and Write the Regression Equation. Also predict the amount of tires (in thousand tires) sold when money invested in advertising is 5 thousand dollars. Calculate the correlation coefficient, coefficient of determination. Check whether there is a relation between correlation coefficient and coefficient of determination. Calculate SSE and MSE and standard error of the slope coefficient.
Identify the population parameter of interest in the survey. Give a point estimate of the population parameter. Set up H0 and Ha for testing whether the true percentage of TV viewers who find cable news to be better quality than network news differs..
Company wishes to exceed on-time rate of competitors at new hub. Hundreds of flights arrive at location daily. Determine the main advantages and disadvantages of employing sampling in application?
Which of the following is true about the expected value of perfect information. It is the amount you would pay for any sample study.
At the .10 significance level you will test to determine if there has been an increase in selling time. Assuming we are using a t test what will be the critical value"?
Normally distributed with a mean of 9.75g and a standard deviation of 0.08g. Find the weights that separate the top 5% and the bottom 5%.
For n=25 make up three values of that would be considered typical for a sample from this population. Make up three data points that would be considered typical from this population.
Test whether there is a difference in the mean of times men and women and determine the p-value.
A film developer claims that the mean number of pictures developed for a camera with 24 exposer is less than 22. If the hypothesis test is preformed, how should you interpret a decision a)reject the null hypothesis and b) fail to reject the null h..
Find the value of k that makes f(x; y) a valid probability distribution.
According to the 1996 Statistical Abstract of the United States, 7.6% of the scores on the verbal portion of the Scholastic Aptitude Test (SAT) exceeded 600.
Identify all the averages (mean, median, or mode) that can be used to summarize the data. Dollar amount due on next payment.
A report states that 40% of home owners had a vegetable garden. How large a sample is needed to estimate the true proportion of home owners who have vegetable gardens to within 4% with 95% confidence?
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