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Evaluate real-world situations and present solutions using statistical methods.
PC-6.1: Incorporate data, inferences, and reasoning to solve problems.
This Assignment has two parts. Part 1 has questions about forecasting.
Forecasting
Question 1
A marketing manager is forecasting the sales of cars per week. Determine the error for each of the following forecasts. Then, calculate MAD and MSE.
Period Value Forecast Error
1 202 -- --
2 191 202
3 173 192
4 169 181
5 171 174
6 175 172
7 182 174
8 196 179
9 204 189
10 219 198
11 227 211
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Caselet on McDonald’s vs. Burger King - Waiting time
Generate descriptive statistics. Create a stem-and-leaf plot of the data and box plot of the data.
Problems on Sampling Variability and Standard Error and Confidence Intervals
Estimate the population mean
Conduct a marketing experiment in which students are to taste one of two different brands of soft drink
Find out the probability
LINEAR PROGRAMMING MODELS
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