Costco sells paperback books in their retail stores and wanted to examine the relationship between price and demand. The price of a particular novel was adjusted each week and the weekly sales were recorded in the table below.
Sales Price3 124 116 1010 98 810 7The correlation coefficient for this data is ________.A) 0.402
B) 0.623
C) 0.910
D) 0.197
Q. 2Ordinal data has all of the properties of interval data with the added feature that allows us to measure the differences between the categories with actual numbers in a meaningful way.
Indicate whether the statement is true or false
Q. 3The test statistic that is used to compare the variances of two populations will always be greater than 1.0.
Indicate whether the statement is true or false
Q. 4The Central Limit Theorem (CLT) states that the sample means _____________________.
A) of any samples will be normally distributed regardless of the shape of their population distributions
B) of large-sized samples will be uniformly distributed regardless of the shape of their population distributions
C) of large-sized samples will be normally distributed regardless of the shape of their population distributions
D) of any samples will be uniformly distributed regardless of the shape of their population distributions
Q. 5If a pilot sample is not available, it is recommended to set the sample proportion equal to 0.50 to calculate the required sample size for a confidence interval for the proportion.
Indicate whether the statement is true or false
Q. 6In Chapter 1, the textbook author provided the following extreme example of a poorly worded survey question:We would like to propose a national golf holiday. Everybody gets the day off from work and can play golf all day.
(You would not need permission from your spouse to play.)Are you in favor of this proposal?A. Yes, most definitely.B. Sure, why not?C. No, I would rather spend the entire day at work.P.S. If you choose C, we will permanently revoke all your golfing privileges everywhere in the country for the rest of your life. We are dead serious.The results of this survey would be unreliable due to ____________.A) sampling error
B) judgment error
C) nonsampling error
D) nonprobability error
Q. 7The purpose of calculating a centered moving average is to remove the seasonal component from the time series.
Indicate whether the statement is true or false
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