APPLIED STAT.IN BUS.+ECONOMICS
APPLIED STAT.IN BUS.+ECONOMICS
6th Edition
ISBN: 9781259957598
Author: DOANE
Publisher: RENT MCG
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Chapter 1.3, Problem 1SE

Give an example of how statistics might be useful to the person in the scenario.

  1. a. An auditor is looking for inflated broker commissions in stock transactions.
  2. b. An industrial marketer is representing her firm’s compact, new low-power OLED screens to the military.
  3. c. A plant manager is studying absenteeism at vehicle assembly plants in three states.
  4. d. An automotive purchasing agent is comparing defect rates in steel shipments from three vendors of steel.
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Q.2.4 There are twelve (12) teams participating in a pub quiz. What is the probability of correctly predicting the top three teams at the end of the competition, in the correct order? Give your final answer as a fraction in its simplest form.
The table below indicates the number of years of experience of a sample of employees who work on a particular production line and the corresponding number of units of a good that each employee produced last month. Years of Experience (x) Number of Goods (y) 11 63 5 57 1 48 4 54 5 45 3 51 Q.1.1 By completing the table below and then applying the relevant formulae, determine the line of best fit for this bivariate data set.  Do NOT change the units for the variables.   X y X2 xy         Ex= Ey= EX2 EXY= Q.1.2 Estimate the number of units of the good that would have been produced last month by an employee with 8 years of experience.   Q.1.3 Using your calculator, determine the coefficient of correlation for the data set. Interpret your answer. Q.1.4 Compute the coefficient of determination for the data set. Interpret your answer.
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APPLIED STAT.IN BUS.+ECONOMICS

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