STATISTICAL TECHNIQUES IN BUS.+ECON.
STATISTICAL TECHNIQUES IN BUS.+ECON.
18th Edition
ISBN: 9781260239478
Author: Lind
Publisher: RENT MCG
Question
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Chapter 18, Problem 3SR

a.

To determine

To draw: The graph of the given data.

b.

To determine

To describe: The time series pattern.

c.

To determine

To explain: The reason that forecasting with a trend model is appropriate for the given time series.

d.

To determine

To calculate: A trend forecasting model using simple linear regression and the MAD.

e.

To determine

To state: The predicted annual change of industry sales.

f.

To determine

To calculate: The sales for the next three periods.

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30. An individual who has automobile insurance from a certain company is randomly selected. Let Y be the num- ber of moving violations for which the individual was cited during the last 3 years. The pmf of Y isy      | 1       2      4       8      16p(y) | .05   .10   .35   .40   .10 a.Compute E(Y).b. Suppose an individual with Y violations incurs a surcharge of $100Y^2. Calculate the expected amount of the surcharge.
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59. At a certain gas station, 40% of the customers use regular gas (A1), 35% use plus gas (A2), and 25% use premium (A3). Of those customers using regular gas, only 30% fill their tanks (event B). Of those customers using plus, 60% fill their tanks, whereas of those using premium, 50% fill their tanks.a. What is the probability that the next customer will request plus gas and fill the tank (A2 B)?b. What is the probability that the next customer fills the tank?c. If the next customer fills the tank, what is the probability that regular gas is requested? Plus? Premium?
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