Question 1:
The following monthly sales data was collected from the enterprise in which you work.
Jan -23000, Feb – 45000, March – 52000, April – 65000, May -72000
Assume that Jan is month 1. Make your best forecast as to what the sales will be in September.
Question 2:
If you are going to market a new iphone accessory product in a given area you might want to conduct a test to see that enough people in the area are iphone users. You pull a sample of 55 people and find that 22 of the 55 people are iphone users. Can you reject the hypothesis that in the population 35 percent or less are iphone users. If you can, at what alpha .1, .05, or .025 can it be done?
Question 3:
A co-worker remarks to you that they believe the education level of a person has a lot to do with whether they drive a hybrid or not. Well, you have not finished your MBA yet and you are not sure about the idea that hybrids are all that green anyway. You collect this data.
PHD – 22/75 drive hybrids
MBA – 25/50 drive hybrids
BA/BS – 25/80 drive hybrids
What conclusion can you come to about the categorical variables “level of education” and “owning a hybrid” to tell your co-worker? Be specific and include your chi square test statistic, p value, and your conclusions.
Problem 4:
To determine who best to market coffee to, you gather the following data from coffee drinkers in Lake Oswego.
Income per year ———— Coffee drinks purchased per week.
45000 10
50000 12
55000 16
60000 17
65000 18
70000 16
Prepare a short summary of your findings including the r, your best forecast for how many drinks the 90,000 per year buyer will drink per week, and how confident you are that this sample is representative of the entire population range of incomes. Ex: What is your p value and what can you conclude in terms of the null hypothesis for the entire range of incomes? (keep it short)
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