4BUS1163 Understanding Data Assignment

Assignment Help Other Subject

Reference no: EM133041577

4BUS1163 Understanding Data - University of Hertfordshire

Normal probabilities & Confidence intervals; Correlation & Regression

Problem 1
Monthly sales of a breakfast cereal have a mean of 24704 and a variance of 7190356.
(i) What is the probability that sales in the next month exceed 24500?
(ii) What is the probability that sales in the next month are between 24600 and 24700?
(iii) What is the probability that sales in the next month are less than 24850?
If you need to round your answer, please give at least 3 decimal places.

The data were collected over 23 months. With the addition of this information, answer the following.
(iv) What is the lower limit for a 95% confidence interval for sales?
(v) What is the upper limit for a 95% confidence interval for sales?

Problem 2
Weekly visits to a top tourist attraction in Mustwilhamshire have a mean of 6545 and a standard deviation of 730.
(i) Find the probability that visits in the next week exceed 6750.
(ii) Find the probability that visits in the next week are between 6600 and 6900.
(iii) Find the probability that visits in the next week are less than 7050.
If you need to round your answer, please give at least 3 decimal places.
The data were collected over 16 weeks. With the addition of this information, answer the following.
(iv) What is the lower limit for a 90% confidence interval for weekly visits?
(v) What is the upper limit for a 90% confidence interval for weekly visits?

Problem 3 What is the correlation between sales and amount spent on marketing?

Problem 4 For a regression where sales is the dependent (y) variable and amount spent on marketing is the independent (x) variable, what is the intercept of the best fit line obtained by the Least Squares method?

Problem 5 For a regression where sales is the dependent (y) variable and amount spent on marketing is the independent (x) variable, what is the slope of the best fit line obtained by the Least Squares method?

Problem 6 What is the R2 value for the regression in questions 4 and 5?

Problem 7 From the regression in questions 4 and 5, what is a prediction for sales when 27652 is spent on marketing?

Problem 8 What is the standard error given by Excel from the regression in questions 4 and 5?

Problem 9 What is the lower limit for an approximate 95% confidence interval for the prediction in Problem 7 where the approximation of 2 × standard error is used?

Problem 10 What is the upper limit for an approximate 95% confidence interval for the prediction in Problem 7 where the approximation of 2 × standard error is used?

Attachment:- Understanding Data.rar

Verified Expert

This research essay has critically checked importance of diversity for all scientific researches. There should not be any kind of bias on ethnic groups as it can retard their performance and ability to learn and grow, significantly. The sections were prepared initially very carefully by adopting a MEAL plan method. Finally recommendations on important educational programs like NIDDK have been proposed for development of conditions of hispanics and others.

Reference no: EM133041577

Questions Cloud

Closed-looped methodology brings learning full circle : Whirlpool Mixes Up Its Managerial Training: Closed-Looped Methodology Brings Learning Full Circle

Different types of conflict resolution : In the workplace, What are the different types of conflict resolution?

What should Matteson report as its investment : O'Toole reported net income of $344,000 and declared cash dividends of $30,000. On December 31, 2021, what should Matteson report as its investment

What is the maximum possible dividend payout rate : Its return on equity is 42%. What is the maximum possible dividend payout rate the firm can maintain without resorting to additional equity issues

4BUS1163 Understanding Data Assignment : 4BUS1163 Understanding Data Assignment Help and Solution, University of Hertfordshire - Assessment Writing Service

What is the yield on this five-year corporate bond : The market expects that inflation will average 3.75% over the next 10 years (IP10 = 3.75%). What is the yield on this five-year corporate bond

What is the effect of Net Income on Artichoke on date grant : Using a fair value option pricing model, total compensation expense is determined to be $2.700. What is the effect of Net Income on Artichoke on the date grant

Manage legal and ethical compliance : Provide the name of the authority which sets out the accreditation requirements for the aged care sector.

Important trend in modern recruiting : Why is improved candidate experience the most important trend in modern recruiting?

User Account

All Pages