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The owner of a local construction company that specializes in outdoor structures desires to make a prediction regarding the next business year sales. Expansion of the business is one possible decision that could be made. It has been determined that the business needs to be at least $8 million dollars in annual sales before expansion could be considered. The following is data for the past 6 years. (Sales in millions of dollars.)
Year Sales Year Sales2004 7.45 2007 7.942005 7.83 2008 7.762006 8.07 2009 7.90
The statistical analysis of the data produced this least square trend equation.
Y' = 7.634 + 0.05457t
What should the owner's decision be regarding expansion in 2010?
Use descriptive statistics to summarize the data from the two studies. What are your preliminary observations about the depression scores?
If 20 voters are selected at random, and X is the number of voters which support this referendum, determine the mean and variance of X.
From the given probability distribution finite the mean and standard deviation.
Sun Love grapefruit growers have determined that the diameters of their grapefruits are normally distrubuted with a mean of 4.5 inches and a standard deviation of 0.3 inches.
Compute the value of the sample correlation coefficient between weekly sales and shelf space. Is the correlation between weekly sales and shelf space significant at the .01 level of significance? What is the estimated regression equation?
Would one make clear (summarize) the differences between the following and when they are used or what they are applied to.
ACME Lumber Company selects a random sample of 36 customers. Customers are rated on their annual spend at ACME Lumber Stores.
30% of college freshmen support increased military spending. If 12 college freshmen are randomly selected, find the probability that more than 5 selected students support increased military spending.
Suppose a random sample of 50 architects and engineers is selected. How likely is it that the random sample contain five or fewer women in these positions.
Either use the p-value approach to hypothesis testing or use the significance level approach with α = .05.
Confirm that these statements are accurate by finding the geometric mean rate of increase.
A Starbucks manager decides to study waiting times of customers for service at the lunch time rush hour 1100-1200. He observes three customers to measure the time the customer enters the line to the time he or she reaches the counter.
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