Statistics Practice Problems Solutions Essay - 1107 Words

1. (24 points) If needed, additional workspace is provided on the next sheet. Doug Moodie is the president of Garden Products Limited. Over the last 5 years, his vice president of marketing has been providing the sales forecast using his special â€Å"focus† forecasting technique. The actual sales for the past ten years and the forecasts from the vice president of marketing are given below. |Year |Sales |VP/Marketing Forecast | |1 |170,300 |-- | |2†¦show more content†¦What must the productivity be to achieve this production output? 650/20 = 32.50 boxes per hour e) If the company believes that to be competitive if it is to produce 650 wooden boxes, the company must reach a productivity measure of 40 boxes per hour. What are the maximum hours a day the company can work? 650/x = 40 X = 16.25 hours 3. (19 points) Additional workspace is provided on the next page. Students in a science class have just received their grades on the first test. The instructor has provided information about the first test grades in some previous classes as well as the final average for the same students. Some of these grades have been sampled and are as follows: Student |1 |2 |3 |4 |5 |6 |7 |8 |9 | |1st Test Grade |98 |77 |88 |80 |96 |61 |66 |95 |69 | |Final Average |93 |78 |84 |73 |84 |64 |64 |95 |76 | |You are also provided the results from several different linear regression relationships for the above data. These provide different regression relationships looking at different combination of independent and dependent variables. [pic]a) Develop a linear regression model that can be used to predict the final course average based on the first test grade. [pic] b) Predict the final average of a student who made an 83 on the first test. [pic] c) Would you recommend using this relationship for forecasting the final averages? Why? 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