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Consider the following time series data.Week 1 2 3 4 5 6Value 18 13 16 11 17 14Using the naive method (most recent value) as the forecast for the next week, compute thefollowing measures of forecast accuracy.a. Mean absolute error.b. Mean squared error.c. Mean absolute percentage error.d. What is the forecast for week 7?2. Refer to the time series data in Problem 1. Using the average of all the historical data as a forecast for the next period, compute the following measures of forecast accuracy:a. Mean absolute errorb. Mean squared errorc. Mean absolute percentage errord. What is the forecast for week 7?
If the 95% confidence interval for the mean of a variable of interest obtained from a sample for values contains a hypothesized value, µ1, of the mean.
Estimate the probability that a randomly selected jar will have a fill, x, that is out of specification. Assume that the process is in control and that the population of all jar fills is normally distributed.
Determine the setting for the mean so that no more than 1% of the cans of paint will be unacceptable.
Suppose it is known that a new treatment is successful in curing muscular pain in 75% of the cases. If it is tried on 9 patients, find the probability that fewer than 7 patients are cured.
One month of the true difference and with 95% confidence if the range of all the data is 6 years? Use the appropriate tables in your book.
The remaining 5 were not given the overview. Here are the scores for students in each group:
Find the probability that out of our batch of 100, with the sampling technique listed above, that (i) both toothbrushes are defective, (ii) that one of the two is defective.
Suppose that you are conducting a survey of customer satisfaction regarding their cellular phone. If you called 11 households selected at random, what is the probability that:
According to Chebyshev's Theorem, how many students scored between 57 and 93? Assume that the distribution is normal. Based on the Empirical Rule, how many students scored between 57 and 93?
The weekly salaries one year after graduation are normally distributed with a standard deviation of $85. If one graduate is randomly selected. Describe the distribution of the weekly salaries being earned one year after graduation.
Can researcher conclude that humidity has significant effect on eating behavior? Use two-tail test with α = .05. Calculate estimated Cohen's d and r2 to measure size of treatment effect.
If and are the proportions of all college males and females correspondingly, who worked last summer, the z statistic (±0.01) for a test comparing the proportions of college men and women who worked last summer is??
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