Which one of the following lists contains one measure of central location and one measure of dispersion? A. Range and Standard deviation B. Mean and Mode C.median and average D. Mode and Range
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Which one of the following lists contains one measure of central location and one measure of dispersion?
A. Range and Standard deviation B. Mean and Mode C.median and average D. Mode and Range
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- In a short paragraph, describe the trend and seasonal variation of the number of customers (in thousand)in this coffee shop by referring to the following time series plot:(b) Find the trend by calculating the 4-period moving average.(Present your work in a table format and correct all answers to 4 decimal places.)Which of the measure(s) of central location can be used for both numerical and categorical variables? Choose from: mean, median, mode, and trimmed mean.1. Which method would you choose to compute dissimilarity between clusters using the distance between two observations, one from each cluster,that are the most different? a. Group average linkage b. Ward's method C. single linkage d.Complete linkage 2.Cluster analysis is often used for what business purpose? a.Segmenting customers b. predicting product demand c. Forecasting revenue d.Assessing product success
- What are the advantages of exponential smoothing over the moving average and the weighted moving average?The following gives the number of accidents thatoccurred on Florida State Highway 101 during the past 4 months: Forecast the number of accidents that will occur in May,using least-squares regression to derive a trend equation.In order to monitor the allocation of patrol cars andother police resources, the local police chief, Timothy Kraft, collectsdata on the incidence of crime by city sector. The city isdivided into ten sectors of 1000 residents each. The number ofcrime incidents reported last month in each sector is as follows: Construct a p-chart that plots the rate of crime by sector. Set thecontrol limits to include 99.73 percent of the random variation incrime. ls the crime rate in any sector out of control? Do you haveany suggestions for the reallocation of police resources?
- The sale data is shown as follows: Month 1: 1 Month 2: 6 Month 3: 9 Using 3-month Simple Moving Average method to forecast the sales of Month 4: ________ (Round your answer to the nearest integer)ABC Bank is thinking of opening a new branch in a certain city besides its existing branches due tocustomers’ complaints of long waiting lines and distant of existing branches from them. As an expertin field of banking operations, you were asked to put the criteria of choosing the new location a- If you were asked to choose a mechanism for forecasting the number of transactions per day, what would be the methodology that you will use to decide such forecasting method and what do you think this method may be?The number of patients coming to the Healthy Start Maternity clinic has been increasing steadilyover the past eight months. You are provided with some historical data as follows:Month Clinic attendance(in thousands)1 3.42 3.93 4.54 5.05 5.86 5.97 6.58 6.7b. Use simple linear regression to forecast annual demand for months 9 and 10 by using thetabular method to:-i. Derive the values for the intercept and slope. ii. Derive the linear regression equation. iii. Plot the linear regression line. iv. Develop a forecast of the clinic attendance for months 9 and 10.
