Is the price a good predictor of sales?

Q: what you know about the "work status" variable, the best measure of central tendency is :  -the sum…

A: Given: Variable: Work status

Q: Why is it ideal that you report underlying frequencies when you are reporting percentages?

A: A frequency is the number of participants or cases; its symbol is the weird F. The symbol of the…

Q: What does the horizontal bar stemming from the RIGHT of a bar tell an analyst about a contract…

A: Sol

Q: Suppose at your university you are asked to find the relationship between weekly hours spent…

A: Correlation: Correlation a measure which indicates the “go-togetherness” of two data sets. It can be…

Q: Would the number of items in your grocery cart be discrete or continuous data?

A: Discrete data: Involves finite and countable numbers. Example: Number of students in the class…

Q: which is more meaningful in ranking academic performance quartiles or deciles

A: A data set's quartiles divide the data into four equal parts, each containing one-fourth of the data…

Q: Is mean always the best one to use for central tendency? Explain.

A: Mean is the most widely used central tendency measure, and is usually considered the strongest…

Q: ousands of dollars for homes located on Long Beach Island in New Jersey are given below. How should…

A: In this case, the selling prices (in thousands of dollars) for homes located on long Beach Island in…

Q: what is the point estimate of the annual  income of the salesPerson with three year of college

A: Here, the dependent variable is annual income and independent variable is number of years of…

Q: Mean is always a better measure of central tendency than Median”. Do you agree or disagree with this…

A: Given We conclusion on Mean is always a better measure of central tendency than Median.

Q: Describe data in terms of variability, association, and relative standing.

A: Terms with example Variability Association Relative standing

Q: What would be a suitable chart type to show the proportions of the sales by products?

A: Bar chart:   Bar chart is the graphical way of representing the data values using bars…

Q: Describe about the Mean as Balance Point?

A: Mean: The arithmetic mean (also called the mean) is the most commonly used measure of central…

Q: How will statistics play a part in a health provider's career?

A:

Q: Expressed as Percantage of selling price, which of the best selling menu items is the most costly to…

A: We have to answer question based on given table.

Q: Hey,    how did you get the table comparing the sales amount between for male and females on…

A: Here we should compare the sales amount between for male and females. Given data  Transaction ID…

Q: How to how to interpret scatterplots?

A:

Q: The Bank of Canada is interested in studying the relationship between mortgage rates and median home…

A: Given information: The data represents the values of the variables Interest rate (%) and Median home…

Q: Does the following table of market data suggest a linear relationship between price and number of…

A: Price (thousands of $) 180 195 220 240No. of homes sold 127 118 103 91

Q: Does the following table of market data suggest a linear relationship between price and number of…

A:

Q: Marriot Hotel noticed a decrease in customers' repea- business accompanied by an increase in…

A: Dependent variable is the variable which depends on the another variable. Increase or decrease in…

Q: Cite one significant reason why the Mode is the simplest measure of central tendency…

A: Mode is the value which is most frequently in the data. i.e. Mode is the value which has appeared…

Q: The number of books read buy student students in a week is an example of qualitative and discrete…

A: Qualitative variable consists of categories.

Q: Why is the mean a balance point? Why is the median a midway point? Why is the mode the most common…

A: The mean is nothing but the average of all data points in a data distribution and it is calculated…

Q: Define relative efficiency?

A:

Q: Suppose that there is a negative relationship between grade point average and the number of hours…

A:

Q: Explain the value of the business statistics in management

A: Statistical research in business enables managers to analyze past performance, predict future…

Q: The analyst claims that there is an increasing trend for every new year for investing the money to…

A:

Q: Which point is outlier?

A: for the given data which point is an outlier?

Q: Explain why there is a need to present results/data through graphs and tables.

A: Tabulation is the process of condensing the classified data that helps in easy understanding and…

Q: Define the Test a slope for significance?

A:

Q: Explain if two variables consist of nominal data?

A: Nominal Data: This  is used to label variables without providing  values that are quantitative in…

Q: Explain why the data that come from the BBS are considered to be indices (not true population…

A: The North American Breeding Bird Survey (BBS) has been the cornerstone of continental bird…

Q: The analyst claims that there is a decreasing trend for every new year for investing the money to…

A: For sample 2010 : We have that the sample size is N1=400N_1= 400, the number of people who prefer…

Q: Give 2 real-life situations where the concept of the measures of position of grouped data are used.…

A: We have to tell 2 real-life situations to understand the concept of measures of position of grouped…

Q: What do you mean by relative frequency?

A: To understand the relative frequency let me first explain the frequency. Frequency - The number of…

Q: discuss the trend analysis of the oil palm pricing

A: Given information: The line chart for the price of oil palm is given.

Q: What is the highest relative score earned on a test?

A:

Q: Generate the role of business statistics for making business decision.

A: Business statistics Managers may use statistical analysis in business to assess past results,…

Q: What is a point estimate for μ?

A:

Q: The name of your cat is an example of nominal data. O True False

A: nominal data: nominal data is  a type of data thatis used to lable variables with out providing any…

Q: What is the dependent and independent variable in the sentence below?   What is the relationship…

A: Dependent variable: is the effect. Its value depends on changes in the independent variable.…

Q: Only data that shows positive trends can be graphed in a scatter diagram. O True O False

A:

Q: Which are the graphs for quantitative data?

A: Graphs such as pie charts and bar graphs show descriptive data, or qualitative data. The top 2…

Q: Most observers object to the pay gap when top CEO pay is tied to performance. a) True ) b) False

A: Given statement is - most observers object to the pay gap when top CEO pay is tied to performance

Q: How does one do a trend analysis?

A: Trend analysis is a technique used in technical analysis that attempts to predict future stock price…

Q: The mean is a better measure of location when there are no outliers.  True  False

A: The mean is a better measure of location when there are no outliers.

Q: A sales manager wants to forecast monthly sales for the company's products using the following…

A: A company manager intended to forecast the monthly sales and six months sales are given as below:…

Q: 9. Find the proportion of variation in selling price that can be explained by its linear…

A: Since you have asked multiple questions, we will solve the first question (Q9) for you. If you want…