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Forecasting Exercise
Year Demand ( in 1000's )
1 132 173 184 215 27
Develop a forecast for year 6, using two-year moving average and trend analysis. Identify which method is most appropriate for this data set
Statistics is science of conducting studies to: Solve a system of equations.
Consider the relationship between yearly wine consumption (litres of alcohol from drinking wine per person) and yearly deaths from heart disease (deaths per 100,000 people) in 19 developed countries.
One suggested environmental determinant of pediatric lung function is the level of cigarette smoking in the home. A researcher wants to do a pilot study with two groups:
Test the mean cholesterol content in the egg is greater than 2.5 percent
Assume the observed value of the test statistic is 1.53. What is the smallest level for which there is sufficient evidence to reject H 0 (i.e. the p-value for this test)?
A customer wants delivery to be ensured between 10 am and 2 pm. Your truck leaves the factory at 4 am and time taken to reach the customer is normally distributed with an average of 8 hrs and a standard deviation of 1 hr.
What is the probability that no more than two of the three are commercial successes?
Show that someone will think that the claim has more than a fifty percent chance of being true if p > q / (1 + q). Explain.
Would you use a one-tailed or two-tailed test? Explain your response.
A previously used drug treatment has a mean remission time of 12.5 weeks. Does the data indicate that the mean remission time using the new drug is different from 12.5 week at a level of significance of 0.01?
How likely is it that the store owner will make at least $7,000 if she implements your suggestion?
Plot the data on U.S. general aviation shipments (b) Describe the patterns and discuss possible causes.(c) Would a fitted trend be helpful? Explain. (d) Make a similar graph for 1992-2003 only.
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