3: Consider the daily demand for bicycles at kiosks in DC. Below are side-by-side box plots...
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3: Consider the daily demand for bicycles at kiosks in DC. Below are side-by-side box plots of the distributions of demand for each day of the week. Friday Monday Saturday Sunday Thursday Tuesday Wednesday Day a) What about this plot suggests that there may be an association between Day and Demand? b) The F statistic has been calculated for this data, and it turns out it is 4.7. What is the practical interpretation of this number? c) Below is the sampling distribution of F for 5000 samples when no association exists between Day and Demand. Is the observed association statistically significant? 2 3 4 d) Management only cares whether the demands vary from day to day by about 1000. Thus, does the association carry any practical significance? Demand 2000 4000 6000 8000 Frequency 0 500 1000 2000 3: Consider the daily demand for bicycles at kiosks in DC. Below are side-by-side box plots of the distributions of demand for each day of the week. Friday Monday Saturday Sunday Thursday Tuesday Wednesday Day a) What about this plot suggests that there may be an association between Day and Demand? b) The F statistic has been calculated for this data, and it turns out it is 4.7. What is the practical interpretation of this number? c) Below is the sampling distribution of F for 5000 samples when no association exists between Day and Demand. Is the observed association statistically significant? 2 3 4 d) Management only cares whether the demands vary from day to day by about 1000. Thus, does the association carry any practical significance? Demand 2000 4000 6000 8000 Frequency 0 500 1000 2000
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Answer to part a The plot doesnot suggest any relation in the days and demand of cycle there is no d... View the full answer
Related Book For
Managerial Decision Modeling with Spreadsheets
ISBN: 978-0136115830
3rd edition
Authors: Nagraj Balakrishnan, Barry Render, Jr. Ralph M. Stair
Posted Date:
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