Student Solutions Manual for Basic Business Statistics
13th Edition
ISBN: 9780321926708
Author: David M. Levine; Mark L. Berenson; Timothy C. Krehbiel; Kathryn A. Szabat; David F. Stephan
Publisher: Pearson Education
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Chapter 14, Problem 75PS
a.
To determine
Determine the predicted purchase behavior when
b.
To determine
Determine the predicted purchase behavior when
c.
To determine
Determine the predicted purchase behavior when
d.
To determine
Determine the predicted purchase behavior when
e.
To determine
Determine the regression equation when
f.
To determine
Determine the regression equation when
g.
To determine
Determine the regression equation when
h.
To determine
Determine the regression equation when
i.
To determine
Explain the implications of parts (a) through (h) in the context of increasing the sales for this product with two customer satisfaction measures.
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3. Bayesian Inference – Updating Beliefs
A medical test for a rare disease has the following characteristics:
Sensitivity (true positive rate): 99%
Specificity (true negative rate): 98%
The disease occurs in 0.5% of the population.
A patient receives a positive test result.
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a) Define the relevant events and use Bayes’ Theorem to compute the probability that the patient actually has the disease.b) Explain why the result might seem counterintuitive, despite the high sensitivity and specificity.c) Discuss how prior probabilities influence posterior beliefs in Bayesian inference.d) Suppose a second, independent test with the same accuracy is conducted and is also positive. Update the probability that the patient has the disease.
4. Linear Regression - Model Assumptions and Interpretation
A real estate analyst is studying how house prices (Y) are related to house size in square feet (X). A simple
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The analyst fits the model and obtains:
•
Ŷ50,000+150X
YBoB₁X + €
•
R² = 0.76
• Residuals show a fan-shaped pattern when plotted against fitted values.
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5. Probability Distributions – Continuous Random Variables
A factory machine produces metal rods whose lengths (in cm) follow a continuous uniform distribution on the interval [98, 102].
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Chapter 14 Solutions
Student Solutions Manual for Basic Business Statistics
Ch. 14 - For this problem, use the following multiple...Ch. 14 - For this problem, use the following multiple...Ch. 14 - Prob. 3PSCh. 14 - Prob. 4PSCh. 14 - The production of wine is a multibillion-dollar...Ch. 14 - Prob. 6PSCh. 14 - Prob. 7PSCh. 14 - Prob. 8PSCh. 14 - The following ANOVA summary table is for a...Ch. 14 - The following ANOVA summary table is for a...
Ch. 14 - A financial analyst engaged in business valuation...Ch. 14 - Prob. 12PSCh. 14 - In Problem 14.5 on page 549, you used the...Ch. 14 - In Problem 14.4 on page 548, you used sales and...Ch. 14 - Prob. 15PSCh. 14 - Prob. 16PSCh. 14 - Prob. 17PSCh. 14 - Prob. 18PSCh. 14 - In Problem 14.5 on page 542, you used the...Ch. 14 - In Problem 14.6 on page 549, you used radio...Ch. 14 - In Problem 14.7 on page 549, you used the total...Ch. 14 - Prob. 22PSCh. 14 - Prob. 23PSCh. 14 - Prob. 24PSCh. 14 - Prob. 25PSCh. 14 - Prob. 26PSCh. 14 - Prob. 27PSCh. 14 - Prob. 28PSCh. 14 - Prob. 29PSCh. 14 - Prob. 30PSCh. 14 - The following is the ANOVA summary table for a...Ch. 14 - The following is the ANOVA summary table for a...Ch. 14 - In Problem 14.5 on page 542, you used alcohol...Ch. 14 - Prob. 34PSCh. 14 - Prob. 35PSCh. 14 - Prob. 36PSCh. 14 - Prob. 37PSCh. 14 - Suppose X1 is a numerical variable and X2 is a...Ch. 14 - The chair of the accounting department plans to...Ch. 14 - A real estate association in a suburban community...Ch. 14 - In Problem 14.5 on page 542, you developed a...Ch. 14 - In mining engineering, holes are often drilled...Ch. 14 - The owner of a moving company typically has his...Ch. 14 - Prob. 44PSCh. 14 - Zagat’s publishes restaurant ratings for various...Ch. 14 - Prob. 46PSCh. 14 - In Problem 14.5 on page 542, the percentage of...Ch. 14 - Prob. 48PSCh. 14 - The director of a training program for a large...Ch. 14 - Prob. 50PSCh. 14 - Prob. 51PSCh. 14 - Prob. 52PSCh. 14 - Prob. 53PSCh. 14 - Prob. 54PSCh. 14 - Prob. 55PSCh. 14 - Prob. 56PSCh. 14 - Prob. 57PSCh. 14 - An automotive insurance company wants to predict...Ch. 14 - A marketing manager wants to predict customer with...Ch. 14 - Prob. 60PSCh. 14 - Prob. 61PSCh. 14 - Prob. 62PSCh. 14 - Prob. 63PSCh. 14 - Prob. 64PSCh. 14 - Prob. 65PSCh. 14 - Prob. 66PSCh. 14 - Prob. 67PSCh. 14 - Prob. 68PSCh. 14 - Prob. 69PSCh. 14 - Prob. 70PSCh. 14 - Prob. 71PSCh. 14 - Prob. 72PSCh. 14 - Prob. 73PSCh. 14 - What is the difference between the hat matrix...Ch. 14 - Prob. 75PSCh. 14 - The owner of a moving company typically has his...Ch. 14 - Professional basketball has truly become a sport...Ch. 14 - A sample of 30 houses recently listed for sale in...Ch. 14 - Measuring the height of a California redwood tree...Ch. 14 - A sample of 30 houses recently listed for sale in...Ch. 14 - A baseball analysis specialist wants to determine...Ch. 14 - Referring to Problem 14.81, suppose that in...Ch. 14 - Prob. 83PSCh. 14 - Prob. 84PSCh. 14 - Prob. 85PSCh. 14 - Prob. 86PSCh. 14 - Prob. 87PS
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