Statistics for Business and Economics
Statistics for Business and Economics
1st Edition
ISBN: 9780132745680
Author: NEWBOLD, Paul/ Carlson
Publisher: Pearson College Div
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Chapter 1, Problem 61E
To determine

Draw the scatter plot of sales.

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You need to undertake a face - to - face interview survey of managing directors of small to medium - sized organizations . From the data , you collect you need to be able to generalize about the attitude of such managing directors to recent changes in government policy towards these firms . Your generalizations need to be accurate to within plus or minus 5 percent that is why you need at least 400 respondents . Unfortunately , you have limited resources to pay for interviewers , traveling , and other associated costs . What sampling technique do you prefer and why ?
What is the relationship between the $ price of paint and the gallon demand for this paint? A random sample of (price, quantity) data for 7 days of operation was obtained. Construct a plot and describe the relationship between quantity and price, with emphasis on any unusual observations.(10, 100) (8, 120) (5, 200) (4, 200) (10, 90) (7, 110) (6, 150)
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