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Question: Farmers National Bank issues MasterCard credit cards to its customers. A main factor in determining whether a credit card will be profitable to the bank is the average monthly balance that the customer will maintain on the card that will be subject to finance charges. Bank analysts wish to determine whether there is a relationship between the average monthly credit card balance and the income stated on the original credit card application form. The following sample data have been collected from existing credit card customers:
a. Indicate which variable is to be the independent variable and which is to be the dependent variable in the bank's analysis and indicate why.
b. Construct a scatter plot for these data and describe what, if any, relationship appears to exist between these two variables.
c. Calculate the correlation coefficient for these two variables and test to determine whether there is a significant correlation at the α = 0.05 level.
using a table of critical t-values of the t distribution find the range of values for the p-value for testing a claim
Mercedes Goes After Younger Buyers
The relative frequency distribution of the number of TVs sold in a day in a department store in the last year is as follows: Compute the mean and standard deviation of this distribution.
Compute the mean and variance of the following discrete probability distribution.
The Minitab output for the Tukey Least Significant Difference multiple comparisons is below. Which means are different and similar
In an independent trials process consisting of six trials with probability p of success.
Construct a 95 percent confidence interval for the difference in proportions for the two populations represented by these samples.
if two random samples of size 400 are drawn from two populations that have standard deviations of 60 and 8 respectively
What does a squared correlation coefficient represent? Also, does the strength of the correlation depend on the direction? Finally, does correlation imply causation.
For a normal distribution,
The current values of the stock portfolios for 80 clients of an investment counselor are as listed in data file XR02017. Use your computer statistical software to generate a frequency distribution and histogram describ- ing this information. Do a..
a. Use the Hildreth-Lu procedure to obtain a point estimate of the autocorrelation parameter. Do a search at the values ρ = .1, .2, ... ,1.0 and select from these the value of ρ that minimizes SSE.
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