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A county has four major hospitals: 1) Regional Memorial; 2) General; 3) Charity; and 4) City. A multiple regression model is used to compare the time spent in the hospital after a heart by-pass surgery among the four hospitals. The response (dependent) variable is the amount of time spent in the hospital (in days). The variables used to predict the time spent in the hospital include the patient's age, cholesterol level (in mlg.), blood pressure, as well as variables indicating the hospital in which the surgery was performed. Determine the total number of independent variables in the multiple regression model. Indicate how many of these are quantitative variables and how many are indicator (dummy) variables
Joe has started an iphone booth in the mall. His francise booth and other startup costs total $82,000. Joe expects to pay $240 per iphone unit and sell them for $390 each. Joe needs to reach a 10% profit margin.
What is the minimum-cost order quantity for the shoes? What are the annual savings of your inventory policy over the policy currently being used by Keith?
If a statistics professor plans classes so carefully that the lengths of her classes are uniformly distributed between 48.0 and 53.0 minutes what is the probability that a given class period runs greater than 51.25 minutes.
Examine the residual files and produce appropriate residual plots to examine the assumptions. Are the Level-1 residuals normally distributed? Are the level-2 residuals multivariate normal? How do you know?
There are 6 children in a family. The number of children defines a population. The number of simple random samples of size 2 that are possible equals:
At the 5% significance level, can the station conclude that the mean age of its listeners is not 25 yrs. Formulate and test the appropriate hypotheses. Use the critical value approach.
Determine regression equation. Use assets as independent variables. For fund with $400.0 million in sales, determineut five-year rate of return (in percent).
Find out the probability that at least one of the CD's is defective?
Determine the probability that at most 4 fish will be killed?
Managers at Beta Technologies, Inc., have collected current annual salary figures and potentially related data for a random sample of 52 of the company's full-time employees.
Find the area under the normal distribution curve to the right of z = -1.03.
Provide examples of a different data collection method and a data collection instrument used in managerial research. Why is it important to ensure that these data collection methods and instruments are both reliable and valid?
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