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Statistics are tools which can hep business perform many business functions. Please choose one of the following functions and discuss how statistics can be used for business purposes. Here are the areas of choice: quality assurance, risk and decision-making, forecasting, sales, budgeting, human resources, and advertising. Please discuss the usage, advantages and disadvantages within your chosen area. Also, please discuss how your chosen area might be used for statistical analysis in your organization.
estimating confidence interval for mean value of y dependent variable.consider the simple linear regression of y
A vending machine is configured to accept only those quarters with weights between 5.550 g and 5.790 g. If 280 different quarters are inserted into the vending machine, what is the expected number of rejected quarters?
A random sample of 200 students at UCLA shows that 120 of them have internet access. Test the claim that the true population proportion of students at UCLA who have internet access
If we select one box of cereal at random from this population, what is the probability that it will weigh less than 915 grams?
Find the probability that a randomly selected trading value exceeds 4.1 million and find the trading volume greater than 90% of all trading volumes. Use formula X1 = Z σ + µ
Prepare an analysis of how you developed your instrument. Be sure to describe how you chose your items, how you would norm this instrument.
If the sample mean is 12.7 oz. and the sample standard deviation is 0.70 oz., find the 95% confidence interval of the true mean.
Determine the coefficient of determination. Assuming a direct relationship between the variables, what is the coefficient of correlation?
Are the events "Republican" and "30-44" independent? Justify your answer. Are the events "Democrat" and "65+" independent? Justify your answer.
If Larry gets a 70 on a physics test where the mean is 65 and the standard deviation is 5.8, where does he stand in relation to his classmates?
Suppose that a random requisition is found to have been incorrectly entered. What is the probability that it was processed by data entry specialist 1? By data entry specialist 2? By data entry specialist 3?
If all the other quantities remain the same, how does the indicated change affect the width of the confidence interval?
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