### Develop a linear trend equation that can be used to

**Assignment Detail:- ** HI6007 Statistics For Business Decisions
Question 1The data in the table below presents the hourly quantity of production for three lines of production processes over the first 4 days in XYZ Company- Answer the questions based on the Excel Output given below-
Day
Process 1
Process 2
Process 3
1
33
33
28
2
30
35
36
3
28
30
30
4
29
38
34
ANOVA: Single Factor
SUMMARY
Groups
Count
Sum
Average
Variance
Process 1
4
120
30
4-66667
Process 2
4
136
34
11-3333
Process 3
4
128
32
13-3333
ANOVA
Source of Variation
SS
df
MS
F
P value
Between Groups
32
????
????
????
Within Groups
88
????
????
Total
120
11
A- State the null and alternative hypothesis for single factor ANOVA-B- State the decision rule -α = 0-05-- C- Calculate the test statistic- D- Make a decision-
Question 2
Assume you have noted the following prices for books and the number of pages that each book contains-
Book
Price -in $-
Y
Pages
X
A
7-00
500
B
7-50
700
C
9-00
750
D
6-50
590
E
7-50
540
F
7-00
650
G
4-50
480
A part of the output of a regression analysis of Y against X using Excel is given below:
SUMMARY OUTPUT
Regression Statistics
Multiple R
0-75027
R Square
0-56290
Adjusted R Square
0-475487
Standard Error
0-980614
Observations
7
ANOVA
df
SS
MS
F
Significance F
Regression
1
6-191972
6-191972
Residual
5
4-808028
0-961606
Total
6
11
Coefficients
Standard Error
t Stat
P-value
Intercept
1-04155
2-37717
Pages
0-00990
0-00390
A- State the estimated regression line and interpret the slope coefficient-B- What is the estimated total price when a book has 1000 pages????C- What is the value of the coefficient of determination???? Interpret it-D- Test whether there is a significant relationship between price and pages at the 10% significance level- Perform the test using the following six steps-Step 1- Statement of the hypothesis Step 2- Standardised test statistic Step 3- Level of significanceStep 4- Decision RuleStep 5- Calculation of test statisticStep 6- Conclusion
Question 3A reporter for a student newspaper is writing an article on the cost of off-campus housing- A sample was taken of 10 one-bedroom units within a half-mile of the campus and the rents paid- The sample mean is $550 and the sample standard deviation is $60-05- We assume the population for one-bedroom units is normally distributed-
Your task is to construct a 95% confidence interval for the average rent per month for the population by addressing the following:A- Parameter of interest B- Point estimator C- Sampling distribution of the point estimator D- Specify the formula for the 95% confidence interval estimator for the parameterE- Perform the necessary calculations and write down the lower and upper limits of the confidence intervalF- Interpret the calculated confidence interval G- Briefly explain what would happen to the width of the interval in each case: -i- the sample size increased, -ii- the sample standard deviation increased, and -iii- the level of confidence increased
Question 4The following information has been collected on the sales of greeting cards for the past 6 weeks-
Week
Sales -$-
1
85
2
90
3
95
4
110
5
105
6
115
A- Develop a linear trend equation that can be used to forecast sales of greeting cardsB- Use the linear trend equation developed in part A to forecast sales for week 7-C- Forecast the sales for week 7 using a three period weighted moving average with weights of 0-6 -week 6-, 0-3 -week 5- and 0-1D- Compare and explain why the results in parts B and C are different-
Question 5
A- In what situations do we use non-parametric tests and parametric tests???? Explain with at least one example for each-
B- Compare and contrast the scales on measurements used in statisics- Support your answer with examples-
Question 6For a particular range of cosmetics a filling process is set to fill tubs of face powder with 4 grams on average and standard deviation of 1 gram- A quality inspector takes a random sample of nine tubs and weighs the powder in each- The average weight of powder is 4-6 grams- What can be said about the filling process, with 95% level of confidence????Step 1- Statement of the hypothesesStep 2- Standardised test statisticformula Step 3- Level of significance Step 4- Decision Rule -Draw a bell to show rejection zone-Step 5- Calculation of the statisticStep 6- Conclusion
Attachment:- STATISTICS FOR BUSINESS DECISIONS-rar

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