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Q1) In February 2002 Argentine peso lost 70% of its value compared to United States dollar. This devaluation severely raised price of imported products. According to survey conducted by AC Nielsen in April 2002, 68% of consumers in Argentina were purchasing fewer products than before devaluation, 24% were purchasing same number of products, and 8% were purchasing more products. Furthermore, in trend toward purchasing less-expensive brands, 88% pointed out that they had changed brands they purchased. Assume the following complete set of results were reported. Use following data to answer questions 9 through 12.
Number of Products Purchased
Brands Purchased
Fewer
Same
More
Total
10
14
24
48
Changed
262
82
8
352
272
96
32
400
i) Determine the probability that consumer chosen at random bought fewer products than before and changed brands?
ii) Given that consumer changed te brands, what is the probability that consumer purchased fewer products than before?
A Correlation matrix (correlation, coefficients and probability level under the hypothesis rho = 0) for a company's sales force (age, years of service, and current sales) is given below. Comment.
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