A service station near an interstate highway sells three grades of gasoline: regular, plus, and premium. During
Question:
(a) Find the contingency table defined by the day of the week and the type of gas. Include the marginal distributions.
(b) Find the conditional distribution of purchase type for weekday purchases.
(c) Find the conditional distribution of premium purchases during the week and weekend.
(d) Does the fact that your answers to parts (b) and
(c) are different indicate association?
(e) The owner of the station would like to develop better ties to customers who buy premium gas. (The owner expects these customers to be more affluent and likely to purchase other services from the station.) If the owner wants to meet more of these customers, when should the owner be around the station: on weekdays or weekends? Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...
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Related Book For
Statistics For Business Decision Making And Analysis
ISBN: 9780321890269
2nd Edition
Authors: Robert Stine, Dean Foster
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