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Consider the sample of 60 package design ratings given in the table below.
A Sample of Package Design Ratings
(Composite Scores for a Systematic Sample of 60 Shoppers)
34 33 33 29 26 33 28 25 32 33
32 25 27 33 22 27 32 33 32 29
24 30 20 34 31 32 30 35 33 31
32 28 30 31 31 33 29 27 34 31
31 28 33 31 32 28 26 29 32 34
32 30 34 32 30 30 32 31 29 33
Use these data to carry out a chi-square goodness of fit test to determine if the population of all package design ratings is normally distributed. Use α = 0.05, and note that x bar = 30.35 and s = 3.1073 for the 60 package design ratings.
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Explain the characteristics of business forecasting.
Empirical Mode Where mode is ill-defined, its value may be ascertained by the following formula based upon the empirical relationship between Mean, Median and Mode: Mode = 3
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