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A marketing analyst in a large grocery store chain. Your job entails developing a robust customer knowledge base utilizing the company's vast database of in-store purchases. To date, you have been able to build a profile of your customer base, draw inferences about different customer groupings, and compare customer behaviors across the different sales regions. Your task is to:
Describe the business benefits of parameter estimation. Provide examples of the type of parameters that might be of interest to decision makers in areas such as marketing. Elaborate on how being able to estimate those parameters would benefit the quality of the resultant decisions. Describe the business benefits of drawing inferences-specifically, when it is advantageous to rely on inferences and what is required to ascertain the correctness of inferences. Discuss the relationship between tests of difference and hypothesis testing in the context of designing marketing promotions. Submit your answers in a 2- to 3-page Microsoft Word document.
Let variable X represents the improvement in time for each assembly line worker. Let μ represents the average improvement in time for the population. Has the training improved the time required on the job? Please test the hypothesis use α=0.05 ..
The proportion of people aged 18-25 who currently use illicit drugs is equal to 0.20 (or 20%). Express the null hypothesis H0 and the alternative hypothesis H1 in symbolic form. Be sure to use the correct symbols - μ, p, and σ-for the indicated
A typical incoming telephone call to your catalog sales force results in a mean order of $ 28.63 with a standard deviation of $ 13.91. You may assume that orders are received independently of one another.
The C.S. Mott Children's Hospital surveyed a national random sample of parents about their desire for email consultation for their child's minor illness or injury and their willingness to pay for this convenience.
Chance of winning $100 or more on a type of casino slot machine is 2.3% when playing the maximum bet for one hour. A couple enters the casino and plays these machines for an hour. What is the chance that one of them wins $100 or more? What is..
The expected value is within one standard deviation of themean(so you must calculate both the standard deviation and expected value for your game).
Can the company rely on the fact that the strength of the chemical is identical from batch to batch and from barrel to barrel and what is the mean strength of the chemical in these stored barrels? How prccisc is that estimate?
examine statistical data consisting of records of car accidents on victorian roads and freeways in 2012. the victorian
A bird lands on a power line of length L
allelectronics caries 1000 products p1 . p1000. consider customers ada bob and cathy such that ada and bob purchase
Derive the expression for the PDF of X
Specialization topic is employee management
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