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Describe the levels of data measurement. Describe the role of statistics in business decision-making.
Three of the most common measures of forecast accuracy are: mean error, mean square error, and mean absolute percentage error.
If the Z-statistic produces a value of Z of 2.45 when the critical value for Z at the .05 level is 1.96, the decision should be what?
If the regression equation is equal to 23.6 - 54.2X, then 23.6 is the _________ while -54.2 is the ________ of the regression line.
Consider a transshipment problem consisting of three origin nodes, two transshipment nodes, and four destination nodes.
Use the network to determine the maximum number of messages that may be sent from a city located at node 1 to a city at node 7.
If the sample mean is 98, the 99% confidence interval to estimate the population mean is _______.
Determine (a) the probability of no cars in the toll plaza, (b) the average length of the line, and (c) THE AVERAGE TIME SPENT BY A CAR IN THE PLAZA.
Construct a c chart for these data. Does it appear as though there existed an assignable cause of variation during inspection period?
Using only the time for the regular program activities, draw a PERT network for this problem. What is the critical path?
What is the difference between a probability sample and a non-probability sample? Which one is preferred by researchers? Explain.
Suggest at least 3 quantitative objects that you should keep track about each caller and/or their behavior with respect to the snack food category
What is the probability of finding both cashiers busy? Would that be the probability of 2 people in the queue?
Give the p value corresponding to this value of the F statistic. Round yoru answer to at leas three decimal places.
Which measures of central tendency do not exist for this data set?
"Products for which demand is predictable and relatively stable are called staples.
Discuss in one short paragraph the relevance of one-tailed and two-tailed tests with alternate hypothesis.
Compare and contrast the designs of the study and the kinds of results they yield. Share your findings.
Determine if males preferred Pepsi more than females. Using the test statistic given, compute the appropriate p value for the test.
The standards for one carton of Wonder Wax are: Direct materials 4 lbs. @ $2.55
Is there sufficient evidence to reject the defense claim that deaths on shifts are independent of whether Gilbert was working?
a) Plot these data and decide if a linear model is reasonable. b) Develop a regression relationship.
As a sample size approaches infinity, how does the t distribution compare to the normal z distribution?
The mean, median, standard deviation, variance, and range for the perceived learning variable as measured by the Perceived CAP Learning Scale
Forecast deliveries using a three week moving average. Use exponential smoothing with a smoothing constant of .4 to forecast the number of deliveries