Question
Build a joint probability table based on this dataset b) What is the probability of online service with high quality and medium price c) What
Build a joint probability table based on this dataset
b) What is the probability of online service with high quality and medium price
c) What is the expected average quality? What is the expected average price?
d) What is the correlation between quality and price? Does the correlation make sense to you? What correlation did you expect?
Bivariate Probability Distribution
X | |||||
1 | 2 | 3 | |||
Y | 1 | 10 | 12 | 20 | |
2 | 5 | 12 | 41 |
X= | Quality | 1= low | 2=Medium | 3=high |
Y= | Price | 1=Low | 2=Medium |
Step by Step Solution
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a For the joint probability distribution we divide each of the 6 frequencies here with the total f...Get Instant Access to Expert-Tailored Solutions
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Analyzing Data And Making Decisions Statistics For Business Microsoft Excel 2010 Updated
Authors: Judith Skuce
2nd Edition
9780132844727, 013292496X, 132844729, 978-0132924962
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