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Use statistical software to simulate data for affectional customer base. For each of 100 customers, make a draw from a Normal distribution with mean 40 and standard deviation 5 (that is, draw from the N(40; 5) distribution) and call this the customer's age. Next, for each of 100 customers, draw from the N(10; 2) distribution and call this the customer's length of membership.
The purchase of a coin-operated laundry is being considered by a potential entrepreneur. The present owner claims that over the past 5 years the average daily revenue has been $675 with a standard deviation of $75.
Test hypothesis that annual incomes of corporate trainers in areas of more than 500,000 are considerably more than those in areas of less than 100,000. Make use of the 5% level of risk.
Make a histogram for the r probability distribution.
At the .01 significance level, can we conclude that there is more variation in the selling prices of the oceanfront homes?
Determine the regression equation, letting the first variable be the independent (x) variable. Find the indicated predicted values.
Provide an example of a situation in which factor analysis, cluster analysis, and multidimensional analysis might be used.
Ms Lisa is the budget director for the New Process Company. She would like to compare the daily travel expenses for the sales staff and the audit staff. She collected the following sample info:
Selection of a location for a prospective Wal-Mart creates many questions for executives. A suitable site would be one that has an adequate demand for Wal-Mart offerings, sufficient transportation resources, and an available labor force.
In a class of 40, 16 driver a car made outside the United States. What is the confidence interval for the total population of students at the 95% level?
Does achieving a high grade in reading cause an individual to earn a high grade in Statistics? Explain your answer with reference to the term lurking variable.
Consider a binomial distribution with 15 identical trials, and a probability of success of 0.5. Use the normal approximation to find the probability that x = 2.
Using this information, calculate Beta risk (probability of Type II error) if the true population mean really is 77.
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