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Predicted a 50% chance of XYZ stock gaining in January and a 50% chance of gaining in February. Your financial advisor sees this and tells you there is a 100% chance XYZ stock will gain over the 2-month period. Would you continue to use this financial advisor? Explain.
Sales manager wishes to award sales representatives who earn the largest commissions a bonus of= $1,000 .He can award bonus to 20% of representatives. Determine cutoff point between those who earn bonus and those who don't?
An average department store sells 350 men's suits per year. The men's suit departments at a particular national chain of stores claim they sell more than the industry average. In 35 of their stores, they sold, on the average, 430 suits per year wi..
What sample size would be needed to obtain an error of ±10 square millimeters with 99 percent confidence?
Calculate a 3-month moving average forecast for months 4 through 9 also Compare the two forecasts by utilizing MAD. Which forecast appears to be more accurate.
First, describe in your own words (no direct quotes, please) what a dummy variable is and its purpose in regression analysis. Secondly, provide an example of where you might use a dummy variable from your own professional experience.
Create the 90% confidence interval for difference in average damage amount for two kinds of SUVs. Interpret this interval.
A cereal manufacturer seeks to test their newest product against competitor's. A group of 100 children was asked to measure each brand, and then to express a preference.
Find the most appropriate statistical procedure: Teacher of low-level reading group interested in average score for group of 25 students?
Evaluate the mean, the median, and the mode of the salaries. Which best describes a typical salary and Evaluate the range, variance, and standard deviation of the data set. Interpret the results in the context of the real-life setting.
If the observed value is 4, the expected value is 5, and the standard error is 4, then the test value used for the z test is equal to
Two people are playing a game. Only one dice is thrown. If the outcome is a 2 or a 3, then player 1 pays player 2 $6. How much should player 2 pay player 1 when a 1, 4, 5 or 6 is thrown so that player 1 and 2 break even
The data below show the average daily high temperature for Chicago, Illinois, for twelve recent spring and summer months. Construct a stem-and-leaf diagram for the data:
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