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A market researcher gives a presentation to a music industry executive. After considering the results of a test market examining whether or not lowering the price of in-store CDs will lower the number of illicit downloads of the same music, the executive claims: "The test market was conducted in eight cities. In two of the cities, lowering the price did not decrease illicit downloading. Therefore, lowering the price does not decrease this behavior and we should not decide to lower prices based on this research." Comment on the executive's conclusion. What type of inference is being made? Will the decision not to lower prices be a good one.
Create a 95% confidence interval for true mean.
Find out the probability
Use a calculator or appropriate computer software to verify that, for the preceding data, xbar = 5.1.
The Confused Bricklayer Robot Problem - Draw a picture to illustrate the initial problem situation and how can you describe a possible solution?
The probability of the patient being chosen at random as having meningitis as only site of infection is?
If the same sample results had been obtained from a random sample of 16 students, could the students' claim be accepted at a lower level of significance?
For a new HDTV the mean number of months until repairs are needed is 36.84 with a standard deviation of 3.34 months.
would this prove that they are exceeding their goal, using α = 0.025?
By using this data and incorporating seasonal effects, predict quarterly turnover for 2010.
A contractor developed a multiplicative time series model to predict the number of contracts in future quarters, using quarterly data on number of contracts during the 3-year period from 1996 to 1998.
If customers arrive according to a non-stationary Poisson process with rate function λ(t) = sin(t) + 5, is the time between the arrivals an exponential distribution?
Evaluate the factor effects. Find out which factors are significant in explaining yield.
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