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- Every morning, Tania leaves for work a few minutes after 7:00 A.M.. For eight days, she keeps track of the time she leaves (the number of minutes after 7:00) and the number of minutes it takes her to get to work. Following are the results: Time Leaving: 13 14 16 30 20 12 9 17 16 10 16 Lenght of Commute: 27 20 23 45 20 45 20 28 27 23 30 a. Construct a scatterplot of the lenght of commute (y) versus the time leaving(x). b. Compute the least-squares regression line for predicting the length of commute from the time leaving. c. Compute the coefficient of determintion.A consumer is given the chance to buy a baseball card for $1, but hedeclines the trade. If the consumer is now given the baseball card, willhe be willing to sell it for $1? Standard consumer theory suggests yes, butbehavioral economists have found that “ownership” tends to increase thevalue of goods to consumers. That is, the consumer may hold out for someamount more than $1 (for example, $1.20) when selling the card, eventhough he was willing to pay only some amount less than $1 (for example,$0.88) when buying it. Behavioral economists call this phenomenon the“endowment effect.” John List investigated the endowment effect in a randomized experiment involving sports memorabilia traders at a sports-card show. Traders were randomly given one of two sports collectibles, say good A or good B, that had approximately equal market value.1 Those receiving good A were then given the option of trading good A for good B with the experimenter; those receiving good B were given the option of…a) A grocer wishes to see whether the median number of itemsbought on each sale could be considered to be 10, so he observes 12customers at the checkout counter. b)Can the Wilcoxon test beused? c) Which assumptions of the model are violated in thisproblem? d)Solve using the Wilcoxon signed-ranks test. Customer Number of Items Customer Number of Items 1 22 7 15 2 9 8 26 3 4 9 47 4 5 10 8 5 1 11 31 6 16 12 7
- The owner of a pet store is trying to decide whether to discontinue selling specialty clothes for pets. She suspects that only 10% of the customers buy specialty clothes for their pets and thinks that she might be able to replace the clothes with more interesting and profitable items on the shelves. Before making a final decision she decides to keep track of the total number of customers for a day, and whether they purchase specialty clothes for their pet. a) Assuming the pet store owner is correct in thinking that only 10% of her customers purchase specialty clothes for their pets, how many customers should she expect before someone buys a garment for their pet? b) What is the probability that she does not sell a garment until the 5th customer? c) What is the probability that exactly 4 of the first 10 customers buy specialty clothes for their pet? d) What is the probability that at least 3 of the first 35 customers buy specialty clothes for their pet?…Suppose we are interested in analyzing the market share and customer loyalty for Murphy's Foodliner and Catalina's Supermarket, the only two grocery stores in a small town. We focus on the sequence of shopping trips of one customer and assume that the customer makes one shopping trip each week to either Murphy's Foodliner or Catalina's Supermarket, but not both. The data shows that of all customers who shopped at Murphy's in a given week, 90% shopped at Murphy's the following week while 10% switched to Catalina's. The data shows that of all customers who shopped at Catalina's in a given week, 80% shopped at Catalina's the following week while 20% switched to Murphy's. Suppose that we are considering the Markov process associated with the shopping trips of one customer, but we do not know where the customer shopped during the last week. Thus, we might assume a 0.5 probability that the customer shopped at Murphy's (State 1) and a 0.5 probability that the customer shopped at Catalina's…Suppose we are interested in analyzing the market share and customer loyalty for Murphy's Foodliner and Ashley's Supermarket, the only two grocery stores in a small town. We focus on the sequence of shopping trips of one customer and assume that the customer makes one shopping trip each week to either Murphy's Foodliner or Ashley's Supermarket, but not both. The data shows that of all customers who shopped at Murphy's in a given week, 90% shopped at Murphy's the following week while 10% switched to Ashley's. The data shows that of all customers who shopped at Ashley's in a given week, 80% shopped at Ashley's the following week while 20% switched to Murphy's. Suppose that we are considering the Markov process associated with the shopping trips of one customer, but we do not know where the customer shopped during the last week. Thus, we might assume a 0.5 probability that the customer shopped at Murphy's (State 1) and a 0.5 probability that the customer shopped at Ashley's (State 2) at…
- In each question, select ONE response from the provided alternative responses. Based on years of experience, an economics professor knows that onthe first principles of economics exam of the semester 13% of studentswill receive an A, 22% will receive a B, 35% will receive a C, 20%will receive a D, and the remainder will earn an F. Assume a 4 pointgrading scale A = 4, B = 3, C = 2, D = 1, and F = 0. Define therandom variable GRADE = 4, 3, 2, 1, 0 to be the grade of a randomlychosen student. What is the expected value of GRADE?A. 2.08B. 10C. 132. Suppose Y = 3X + 2. Given that E (X) = 8 and V ar (X) = 4, what isV ar (Y )?A. 36B. 26C. 38Compute the correlation coefficient between the random variables X and Y ,given the joint probability distribution below. X1 2Y 0 0.70 0.001 0.00 0.30 A. 0.6B. 1 6 C. 0.21 The following is a random sample of seven (x, y) pairs of data points: (1, 5) (3, 7) (4, 6) (5, 8) (7, 9) (3, 6) (5, 7)Use the data points to attempt Questions 34 − 37.34. Compute the…thomas is a shift manager at a local fast food place and is responsible quality management thomas wants ensure that each of the frozen hamburger patties that get delivered by the supplier weights four ounces on average assume that standerd devitation of the weight of hamburger patties is known to be 0.1 ounces thomas tells one of his employes that as a shipment comes in select 20 patties at random and the average weight for the 20 patties if the average weight is less than 3.95 ounces reject the shipment what is the smallest significate level assocaited with decision ruleIn what sense is the mean teh center of distributon? a.M is the center because half the sample scores are always above it and half are below b.M is center because it is always the most probable score in the sample c.M for the sample always equals micro for the population d.M is like a balance point because E (m-x)=0 for every sample.
- a pollster wnats to minimize the effect the order of the questions has on a person's response to a survey. how many different surveys are required to cover all possible arrangements if there are 9 questions on the survey?The Greer Tire company manufactures a new steel-belted radial tire to be sold through a national chain of discount stores. Because the tire is a new product, Greer’s managers believe that the mileage guarantee offered with the tire will be an important factor in the acceptance of the product. Let X = miles that the tires last: X~N(60,000 2,500) Find the mileage guarantee that ensures this company will repair no more than 15% of its product for free. Assume the distribution of tire mileage is normal.The answer to each of the following questions will be one of the points labeled A-H on the scatterplot. (i) Of the sales that received lower-than-predicted tips, which one had the lowest sale amount? [ Select ] ["D", "E", "A", "B", "F", "H", "G", "C"] (ii) Which sale received the best tip, that is, which sale had the tip that was highest above the tip predicted for it? [ Select ] ["A", "B", "D", "E", "C", "G", "H", "F"] (iii) Which data point has the smallest residual? [ Select ] ["A", "C", "F", "H", "D", "G", "B", "E"] (iv) Of E and F, the model makes a better prediction for [ Select ] ["E", "F"] .