Suppose a business records the following values each day the total number of customers that day (X) Revenue for that day (Y) A summary of
Suppose a business records the following values each day the total number of customers that day (X) Revenue for that day (Y)
A summary of X and Y in the previous days is
mean of X: 600 Standard deviation of X : 10
Mean of Y: $5000 , Standard deviation of Y: 1000
Correlation r= 0.9
Calculate the values A,B,C and D (1 mark)
Future value of X | Z score of X | Predicted y =average of y+ r*(Z score of X)* standard deviation of y |
595 | A | B |
600 | 0 | $5000 |
615 | C | D |
You will get marks for each correct answer but note you are encouraged to show working. If the working is correct but the answer is wrong you will be given partial marks
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