average annual expenditure on dining out of households with annual income is $70,000. c) Construct a 99% interval for the annual household expenditure on dining out of a household with annual income is $83,800. d) Interpret the value of the estimated standard deviation of the error. e) Interpret the value of the coefficient of determination. Regression Analysis: dining versus income The regression equation is dining = - 2525 + 0.0734 income Predictor Constant income Coef -2525.5 0.073361 SE Coef 294
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Chapter 1: 1.1 Flashcards Critical thinking Thinking that does not blindly accept arguments and conclusions. Rather, it examines assumptions, discerns hidden values, evaluates evidence, and assesses conclusions. Hindsight bias The tendency to believe, after learning an outcome, that one would have foreseen it. (Also known as the I-knew-it-all-along phenomenon.) 1.2 Flashcard Experimental group in an experiment, the group that is exposed to the treatment, that is, to one version of the independent
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times is = 5.5 and assume that σ, the standard deviation of the population of all customer waiting times, is known to be 2.47 | (a) | Consider the population of all possible sample means obtained from random samples of 101 waiting times. What is the shape of this population of sample means? That is, what is the shape of the sampling distribution of ? | Normal because the sample is large. | (b) | Find the mean and standard deviation of the population of all possible
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cost per unit could vary anything from Rs.70 to Rs.100 (a discrete uniform distribution with the average of Rs.85 and range of Rs.30). From the indications given by the bankers of the company, it is likely that the next year carrying cost as a percentage of Cost per Unit would follow normal distribution with mean of 4% and standard deviation of 1.5%. The cost of placing the order follows subjective normal probability distribution as follows:- Cost of Rs.10 15% Rs.15 30% Rs.20 40%
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Overview and examples from Finite Mathematics Using Microsoft Excel® Revathi Narasimhan Saint Peter's College An electronic supplement to Finite Mathematics and Its Applications, 6th Ed. , by Goldstein, Schneider, and Siegel, Prentice Hall, 1997 Introduction In any introductory mathematics course designed for non-mathematics majors, it is important for the student to understand and apply mathematical ideas in a variety of contexts. With the increased use of advanced software in all
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STATISTICS Please read and understand before responding Topics: Central Tendency, Variability (Dispersion), Quartiles, normal data and skewed distribution of a single data group. You will want to know what measure to use when data distribution is normal (symmetrical) and when the data distribution is significantly skewed. We will work with six measures, mean, median, mode, standard deviation, interquartile range (IQR), and range. You may use a web search or the textbook. Textbook: McClave Ch. 2
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Stata Guide (Version 10) Sunaina Dhingra This guide introduces the basic commands of Stata. 1. Starting Stata Start Stata by using shortcut on the desktop that you can double-click Start Stata using the Windows menu, click the Start > All Programs > Stata 10 Locate a Stata data file, with *.dta extension, and double-click 2. Stata environment Command—this is where Stata command are typed Results—output from commands, and error messages, appear here Review—a listing of commands recently
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figures taken for the years 2011-13 Below is the snapshot of the overall sales distribution (in tonnes) for Sunfeast for a span of three years: Below is the descriptive analysis done on the population data, consisting of three years sales figure from 2011-13 FY’s. Descriptive Statistics for Population Data | | | Mean | 1260613.249 | Standard Error | 31342.14415 | Median | 1262395.307 | Mode | #N/A | Standard Deviation | 188052.8649 | Sample Variance | 35363880006 | Range | 679897
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PROBABILITY DISTRIBUTIONS MULTIPLE CHOICE 1. A numerical description of the outcome of an experiment is called a a. descriptive statistic b. probability function c. variance d. random variable ANS: D PTS: 1 TOP: Discrete Probability Distributions 2. A random variable that can assume only a finite number of values is referred to as a(n) a. infinite sequence b. finite sequence c. discrete random variable d. discrete probability function ANS: C PTS: 1 TOP: Discrete Probability Distributions 3. A
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Chapter 2 | Project Management | | Discussion Questions 1. Software is an essential element for successful management of complex projects. It can provide information on completion performance of critical activities, highlight activities that need additional resources, and suggest the project duration that will minimize costs. However, whether projects are large or small, the people who manage them or perform the activities will ultimately determine the outcome of the project. The project
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