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Ten weeks of data on the commodity Futures Index are 7.35, 7.40, 7.55, 7.56, 7.60, 7.52, 7.52, 7.70, 7.62 and 7.55.
a) Construct a times series plot. What type of pattern exists in the data?
b) Use trial and error to find a value of the exponential smoothing coefficient α that results in a relatively small MSE
Suppose a wedding photographer claims he can finish a bride's wedding photos in less than 7 days. You are given the following data from a sample. Formulate a hypothesis test to evaluate the claim.
Choose at random 4 of those under 21 to interview about attitudes toward alcohol. You have given every student the same chance to be interviewed. What is that chance?
What is the probability that (a) the birthdays of twelve people will fall in twelve di?erent calendar months (assume equal probabilities for the twelve months).
In the belief that Statistics is too hard, a student claims that the mean score on a final exam is less then 70. 15 scores will be chosen at random to test this claim.
What is the purpose of using correlation analysis? How might correlation analysis be used in business decisions or in strategy formulation and implementation?
Test at 5% and 1% whether the molder is operating satisfactorily.
You've two separate sets of data. From one set you calculate the standard error to be 500. From the other set, the standard error was 5.
Super Markets, Inc. is considering expanding into the Scottsdale, Arizona, area. Ms. Luann Miller, Director of Planning, must present an analysis of the proposed expansion to the operating committee of the board of directors.
At the 0.01 significance level, can we conclude that the mean number of patients per day is more than 25? Estimate the p-value and interpret it.
Compute mean, standard deviation, coefficient of variation and 5 key percentiles for these data.
Determine the maximum and minimum dollar amount spent per week for middle 50% of one-person households. Suppose that standard deviation is$5 and variable is normally distributed.
Suppose that 0.6 of the present 25,000 vehicle occupants killed in collisions were not wearing seat belts. There are about 170 million registered cars and trucks on the highway today.
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