To maximize the probability that customers purchase products during a visit to a website, a company that provides marketing services and website management experiments with different offers and website design to understandcustomer Web behavior. Possible actions by the website include offering the customer an instant discount, offering the customer free shipping, or doing nothing. A recent experiment found that customers make purchases 6% of the timewhen offered the instant discount, 4% when offered free shipping, and 3% when no special offer was given. Suppose 30% of the customers are offered the discount and an additional 40% are offered free shipping. Complete parts athrough c.a) Construct a probability tree for this experiment. Complete the probability tree below.Discount.30-Free Shipping .40Nothing- PurchaseNo PurchasePurchaseNo PurchasePurchaseNo Purchase(Type integers or decimals.)0.6 -Discount and Purchase0.94Discount and No Purchase- Shipping and Purchase- Shipping and No PurchaseNothing and Purchase- Nothing and No Purchase4060

The given information is:The percentage of customers who make purchases, when offered an instant…

Answered: To maximize the probability that…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

See similar textbooks

Similar questions

In a survey of 1000 adult Americans, 45.7% indicated that they were somewhat interested or very interested in having web access in their cars. Suppose that the marketing manager of a car manufacturer claims that the 45.7% is based only on a sample and that 45.7% is close to half, so there is no reason to believe that the proportion of all adult Americans who want car web access is less than 0.50. Is the marketing manager correct in his claim? Provide statistical evidence to support your answer. For purposes of this exercise, assume that the sample can be considered as representative of adult Americans. Test the relevant hypotheses using ? = 0.05. Find the test statistic and P-value. (Round your test statistic to two decimal places and your P-value to four decimal places.) z= P-value= chose the conclusion in the context of the problem. a) Reject H0. We do not have convincing evidence that the proportion of all adult Americans who want car web access is less than 0.5. The marketing…
The U.S. Department of Transportation reported that during November, 83.4% of Southwest Airlines' flights, 75.1% of US Airways' flights, and 70.1% of JetBlue's flights arrived on time (USA Today, January 4, 2007). Assume that this on-time performance is applicable for flights arriving at concourse A of the Rochester International Airport, and that 40% of the arrivals at concourse Aare Southwest Airlines flights, 35% are US Airways flights, and 25% are jetBlue flights. a) Deveiop a joint probability table with three rows (airlines) and two
A company experiments with different offers and website designs. Possible actions by the website include offering the customer an instant discount, offering the customer free shipping, or doing nothing. The experiment found that customers make purchases 66% of the time when offered the instant discount, 77% when offered free shipping, and 33% when no special offer was given. Suppose 30% of the customers are offered the discount and an additional 40% of the customers are offered free shipping. Complete parts (a) through (c). Question content area bottom Part 1 a) Construct a probability tree for this experiment. (Type integers or decimals.) Purchase Instant Discount and Purchase No Purchase Instant Discount and No Purchase Purchase Free Shipping and Purchase Free Shipping No Purchase Free Shipping and No…
a) The analysts’ stock recommendations are of considerable interest to investors. A study looking at the subsequent performance of new buy and sell recommendations by analysts over a period of time found the following results: Successful Unsuccessful New Buy 957 1233 New Sell 503 221 Note: A buy recommendation is ‘successful’ if the stock outperforms the benchmark by at least 4% over the next year. A sell recommendation is ‘successful’ if the stock underperforms the benchmark by at least 2% over the next year. (iii) What is the probability that a chosen recommendation is either a new buy or successful?
A company organizes its sales into territories, each assigned to one sales representative. An analyst theorizes that the on-the-job experience level of the sales rep may be related to the amount of sales in each territory. The analyst decided to use the time the sales reps had been employed at the company to predict sales. After taking a random sample of sales territories, the analyst measured the last quarter's Sales in dollars and the Experience the sales rep had at the company in months. Here are the three tables from the regression results: Regression Statistics Multiple R R Square Adjusted R Square Standard Error Observations ANOVA Regression Residual Total Intercept Experience (months) 0.5966 0.3559 0.339 497.9058 40 df 1 38 39 Coefficients 6.6108 SS 5205388.04 5205388.04 9420585.51 Standard Error 4250.9742 180.2332 14625973.55 1.4427 How many territories are in the sample? 247910.15 t Stat MS 23.586 4.5822 P-value 2.71E-24 4.85E-05 F 20.9971 Lower 95% Upper 95% 3886.1113…
The PR team at Bruno conducts their hiring process in two stages. For applicants who are classified as A, B, and G in the first stage, the chances of getting hired full-time after the second stage are 74%, 43% and 26% respectively. If an applicant is not hired full-time, they are either put on a probation list, or rejected. Unselected applicants of all categories (A, B, and G) are half as likely to be put on the probation list as being rejected. During the first stage of the most recent hiring, 22% of the applicants were rated A, 39% were rated B, and the rest were rated G. If a randomly chosen applicant was rejected by three out of eight individual interviewers, what is the probability that they were rated A?
Five percent of the customers who visit a website complete a product purchase. If one considers just the set of customers who completed the project purchase at the website, 80% read at least some of the user reviews about the product on the site. When considering those customers who did not purchase of the product at the website, only 20% of these potential customers read the user reviews about the product on the site. The website managers are interested in how customer review-reading behavior affects the likelihood of purchase. A likelihood probability for this problem context is: A. P(Purchase | Visit Site) B. P(Did Not Purchase | Read User Reviews) C. P(Visit Site | Purchase) D. P(Did Not Read User Reviews | Product Purchased) E. None of the answers are correct.
At LLD Records, some of the market research of college students is done during promotions on college campuses, while other market research of college students is done through anonymous mail, phone, internet, and record store questionnaires. In all cases, the company solicits an "intent-to-purchase" score from the student, with 0 being the lowest score ("no intent to purchase") and 100 being the highest score ("full intent to purchase"). The manager finds the following information for 150 intent-to-purchase scores for a soon-to-be-released CD: Sample Sample Sample size Group mean variance On campus 30 64.5 68.9 By mail 30 63.0 77.1 By phone 30 62.8 125.1 By internet 30 62.3 106.0 In a store 30 68.2 85.9 Send data to calculator Send data to Excel Suppose that the five populations of scores from which these samples were drawn are approximately normally distributed and have the same mean and the same variance. Answer the following, carrying your intermediate computations to at least three…
a) The analysts’ stock recommendations are of considerable interest to investors. A study looking at the subsequent performance of new buy and sell recommendations by analysts over a period of time found the following results: Successful Unsuccessful New Buy 957 1233 New Sell 503 221 Note: A buy recommendation is ‘successful’ if the stock outperforms the benchmark by at least 4% over the next year. A sell recommendation is ‘successful’ if the stock underperforms the benchmark by at least 2% over the next year. (iv) What is the probability of choosing a successful stock, given a new buy recommendation?
Five percent of the customers who visit a website complete a product purchase. If one considers just the set of customers who completed the project purchase at the website, 80% read at least some of the user reviews about the product on the site. When considering those customers who did not purchase of the product at the website, only 20% of these potential customers read the user reviews about the product on the site. The website managers are interested in how customer review-reading behavior affects the likelihood of purchase. Which of the following probability statements are true? P(Read Reviews | Purchase) = 0.040 P(Did Not Purchase | Read Reviews) = 0.726 None of the answers are correct. P(Purchase | Did Not Read Reviews) = 0.040 P(Did Not Read Reviews | Did Not Purchase) = 0.200
Cable TV choices: A telecommunications company provided its cable TV subscribers with free access to a new sports channel for a period of 1 month. It then chose a sample of 404 television viewers and asked them whether they would be willing to pay an extra $10 per month to continue to access the channel. A total of 35 of the 404 replied that they would be willing to pay. The marketing director of the company claims that the percentage of all of its subscribers who would pay for the channel differs from 6%. Can you conclude that the director's claim is true? Use the a=0.10 level of significance and the P-value method with the table. Part: 0 / 4 Part 1 of 4 (a) State the appropriate null and alternate hypotheses. Ho : H₁ : This hypothesis test is a (Choose one) ▼ test. Part: 1 / 4 Part 2 of 4 P-value= Part: 2 / 4 Part 3 of 4 (b) Compute the P-value. Round the answer to at least four decimal places. (c) Determine whether to reject Ho. (Choose one) Part: 3 / 4 Part 4 of 4 X (d) State a…
At LLD Records, some of the market research of college students is done during promotions on college campuses, while other market research of college students is done through anonymous mail, phone, internet, and record store questionnaires. In all cases, the company solicits an "intent-to-purchase" score from the student, with 0 being the lowest score ("no intent to purchase") and 100 being the highest score ("full intent to purchase"). The manager finds the following information for 135 intent-to-purchase scores for a soon-to-be-released CD: Group Sample Sample Sample size mean variance On campus 27 65.6 75.9 By mail 27 65.1 120.3 By phone 27 62.9 45.8 By internet 27 59.3 130.9 In a store 27 70.8 78.8 Send data to calculator Send data to Excel Suppose that the five populations of scores from which these samples were drawn are approximately normally distributed and have the same mean and the same variance. Answer the following, carrying your intermediate computations to at least three…

Recommended textbooks for you

MATLAB: An Introduction with Applications

Statistics

ISBN:

9781119256830

Author:

Amos Gilat

Publisher:

John Wiley & Sons Inc

Probability and Statistics for Engineering and th…

Statistics

ISBN:

9781305251809

Author:

Jay L. Devore

Publisher:

Cengage Learning

Statistics for The Behavioral Sciences (MindTap C…

Statistics

ISBN:

9781305504912

Author:

Frederick J Gravetter, Larry B. Wallnau

Publisher:

Cengage Learning

MATLAB: An Introduction with Applications

Statistics

ISBN:

9781119256830

Author:

Amos Gilat

Publisher:

John Wiley & Sons Inc

Probability and Statistics for Engineering and th…

Statistics

ISBN:

9781305251809

Author:

Jay L. Devore

Publisher:

Cengage Learning

Statistics for The Behavioral Sciences (MindTap C…

Statistics

ISBN:

9781305504912

Author:

Frederick J Gravetter, Larry B. Wallnau

Publisher:

Cengage Learning

Elementary Statistics: Picturing the World (7th E…

Statistics

ISBN:

9780134683416

Author:

Ron Larson, Betsy Farber

Publisher:

PEARSON

The Basic Practice of Statistics

Statistics

ISBN:

9781319042578

Author:

David S. Moore, William I. Notz, Michael A. Fligner

Publisher:

W. H. Freeman

Introduction to the Practice of Statistics

Statistics

ISBN:

9781319013387

Author:

David S. Moore, George P. McCabe, Bruce A. Craig

Publisher:

W. H. Freeman

SEE MORE TEXTBOOKS