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A young saleswoman in a company is interested in determining brand loyalty for her company. She looks at two products that she believes are closely linked and most customers, if they buy one they would most likely buy the other, if satisfied or have strong brand loyalty. She starts with those customers that bought product A and she notices the company has 13.33% market share for this product A. By searching more databases she finds that if a person owns product A, the proportion that own product B is 59.45%, and if a person does not own product A the probability of owning product B is 59.45% as well.
When answering probability questions, write each question in function notation
a. What is the probability that a person owns product B?
b. A person is known to own product B. What is the probability they also own product A?
c. Are the events, a person owns product A, a person owns product B, independent events? A yes or no answer alone will not receive any credit. You must show proof for your yes or no response.
How many permutations of a set of five distinct objects taken three at a time are there?
Give a brief definition and an example of the following: What does the correlation coefficient r describe? What about r squared?
consider the following frequency of demanddemandnbspnbspnbspnbspnbspnbsp relative
a certain population has a mean of 476 and a standard deviation of 36. many samples of size 56 are randomly selected
You have helped me with some statistic questions a few days ago. Do you think you would have time to help me with some statistic questions today?
A basketball player who ordinarily makes about 55% of his free throw shots has made 4 in a row. Is this evidence that he has a hot hand tonight?
Create and solve a linear program which maximizes Sunco's daily profits. What are the optimum decisions, i.e. the barrels of crude oil used to create the gasoline and the advertising dollars spent on stimulating the demand for gasoline?
A has one share in a lottery in which there is 1 prize and 2 blanks; B has three shares in a lottery in which there are 3 prizes and 6 blanks. Compare probability of A's success to that of what is B's success?
For H0 : µ = 100, H1 : µ ? 100, and for a sample of size n, why is , larger if the actual value of is 90 than if the actual value of is 75?
Create a probability model for the number of children they'll have.- Find the expected number of children.- Find the expected number of boys they'll have.
show that s2subp is an unbiased estimator of sigma2 and find its variance under the condition of following theorem. if
The monthly sales of a mobile phone shop have been distributed with a standard deviation of $900. A statistical study of sales in the last nine months has found a confidence interval for the mean of monthly sales with extremes of $5663 and $6839.
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