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1. What is meant by time-series data? Give an example.
2. Explain the difference between time-series data and cross-sectional data. Are these two types of data sets mutually exclusive? What do they have in common? How do they differ?
3. What are the differences between quantitative and qualitative forecasting techniques? Under what conditions is it appropriate to use a quantitative technique?
4. Provide an example of a business decision that requires (1) a short-term forecast, (2) a medium-term forecast, and (3) a long-term forecast.
An office manager wishes to estimate the mean time required to handle customer complaints. A sample of 38 complaints shows a mean time of 28.7 minutes with a standard deviation of 12 minutes.
A sample of 121 provided a sample mean of 77.3. The population standard deviation is known to be 16.5. Compute the value of the test statistic.
suppose that a particular candidate for public office is in fact favored by 48 of all registered voters in the
a clothing store chain is having a sale based on the use of a coupon. the company is interested in knowing whether the
the u.s. bureau of labor statistics releases figures on the number of full-time wage and salary workers with flexible
according to the law school admission council in the fall of 2006 63 of law school applicants were accepted to some law
among coffee drinkers men drink of 3.2 cups per day with a standard deviation of 0.8 cups. assume the number of coffee
Identify the null hypothesis, alternative hypothesis, test statistic, P-value or critical conclusion about the null hypothesis and final conclusion that addresses the original claim.
To utilize the weighted least squares approach we need to know, up to a multiplicative constant, the variance of Y as a function of x. We will now present an argument that Var(Y) should be proportional to x.
discover card would like to test the hypothesis that the average credit score for an adult in dallas is different from
question a researcher in the west coast of the u.s. wants to estimate the amount of a newly discovered antibody in
What is the probability that a randomly selected item from the production process will not be defective? NOTE: Express probabilities to 4 decimal places of accuracy.
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