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Sally wanted to build a multiple regression model based on advertising expenditures and A coffee business price index. Based on the selection of all normal values she obtained the following:
1. Multiple R = 0.738 2. R square=0.546
By using lagged values she came up with the following:
3.Multiple R=0.755 4. R square=0.570
Explain the differences in using these different methods. How could the Coffee business further optimize this model.
Tourism is one consideration for The coffee future. A survey of 1,233 visitors to India last year revealed that 110 visited a small cafe during thei visit. Sally clains that 10%of tourists will include a visit to a cafe. Use a 0.05significance level to her claim. Would it be wise for her to use that claim in trying to convince mangement to increase ther advertising spending to travel agents? Explain.
Finally, what additional strategy (or varied) would she reccommend to the key decision maker to solve the challenge. Prepare a 350 word memo to the key decision maker advocating this reccommendation.
A researcher hypothesized that the variation in the car rental rates (in US$/day) at a major city airport is less than in the car rental rates down town.
What is the 95% confidence interval estimate of the population mean cost for a prescription of Zocor?
Construct a 96% confidence interval for the mean weight of all firefighters six months after the exercise rooms were installed.
At the .01 significance level, can we conclude that there is more variation?
You're responsible for planning parking needed for a new 256-unit apartment complex, and you're told to base the needs on the statistic 'average number of vehicles per household is 1.9'.
Determine Probability using exponential distribution.The average time between failures of a laser machine is exponentially distributed with the mean of 40,000 hours.
A statistician is interested in determining whether food preferences depend on the country. The data is presented below. What is the correct statistical test for analyzing the data?
Utilizing jacobian method finding the probability density function. Utilizing either the CDF method or Jacobian method illustrate the probability density function of Y is given.
Determine fraction of employees cost between $1,500 and $2,000 per year?
Use the sales data given below determine: a) The least square trend line.
A company producing a standard line and a deluxe line of dishwasher has the following time requirements (in minutes) in departments where either model can be processed
Determine the maximum and minimum dollar amount spent per week for middle 50% of one-person households. Suppose that standard deviation is$5 and variable is normally distributed.
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