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1. If you are calculating a correlation coefficient testing the relationship between height and weight, state the null and alternative hypotheses.
2. What kind of relationship does a correlation coefficient test?
3. What does a "perfect negative correlation" mean?
4. What number will your correlation coefficient be close to when there is no particular pattern of relationship between your x variable and your y variable?
5. Interpret the correlation coefficient in the scatter plots below?
Types of business forecasting are generally as follows: 1. Sales and Demand forecasts 2. Porduction forecasts. 3. Cost Forecasts 4. Financi
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Statistics Can Lead to Errors The use of statistics can often lead to wrong conclusions or wrong estimates. For example, we may want to find out the average savings by i
Test the following claim. Identify the null hypothesis, alternative hypothesis, test statistic, critical value(s), conclusion about the null hypothesis, and final conclusion that
The Elementary Teachers' Federation of Ontario make the following claim on their website as of February 13, 2013: For years, the Elementary Teachers' Federation of Ontario (ETFO
Explain the characteristics of business forecasting.
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