Find what forecasting method to use for historical data
Your manager is trying to find what forecasting method to use. Based on the given historical data, find given forecast and specify what procedure you use.
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In the Illinois Pick 3 lottery game, you pay 50 cents to choose a sequence of three digits, such as 233. If you play this game once every day, determine the probability of winning exactly once in 365 days. [Note: There is one winning set of number
The sales manager of the hardware wholesaler determines that 230 of the previous 500 phone calls to hardware store owners resulted in new product placements. Suppose that 500 calls represent random sample. Develop a 95% confidence interval for the
Suppose you are interested in estimating the probability that a college student will own a personal computer. You poll 8 of your classmates from randomly selected classes and find that 5 of them own their own computers.
Utilize Newton's law to find force applied to backrest when 150-lb person leans 40% of his or her body weight it. Find constant requiered for spring.
In a Gallup poll, 491 randomly chosen adults were asked whether they're in favor of death penalty for person convicted of murder, and 65% of them said they were in favor. Determine a 95% confidence interval estimate of the percentage of adults who
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A direct mail sales company should find out its credit policies quite carefully. Assume that the firm suspects that advertisements in the certain magazine have led to excessively high rate of write offs. The firm desires to establish a 90% interva
Venom had half-life of sixteen hours. Suppose Tasmanian tiger was still alive after two days. How much of venom remained in the bloodstream?
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