Teste_3_Problem_2_Shaving_Cream_Test_for_Module_3_Material_didático

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03/07/2020 Problem 2 - Shaving Cream | Test for Module 3 | Material didático CTL.SC0x | edX
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Curso  
Module 3 - Statistics {Time: 17
hours}  Test for Module 3  Problem 2 - Shaving Cream
Problem 2 - Shaving Cream
Test due Jul 8, 2020 12:00 -03
Shaving Cream
0.0/6.0 points (graded)
You are working with the marketing team for a FMCG �rm that produces shaving cream. The team believes that sales of some
of the products are closely related to sales of other products. They want you to explore this in a little more depth for two
products, SKU 123 and SKU 456. Unfortunately, all of the base sales data for these products has been destroyed. All that you
have is the weekly summary data:
Data
Mean
Standard Deviation
SKU123
733
183
SKU456
1091
293
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03/07/2020 Problem 2 - Shaving Cream | Test for Module 3 | Material didático CTL.SC0x | edX
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Part 1
The marketing team believes the correlation of these items is 0.66.
What would the covariance need to be for the marketing team to be correct?
Write your answer as a number with at least 2 decimal places.
 
 
Part 2
Now the marketing team wants to understand the potential weekly sales for these two products. Let the sales price for the
two SKUs be 12.50, 7.75, respectively.
What is the expected weekly revenue?
Write your answer as a number with at least 2 decimal places.
03/07/2020 Problem 2 - Shaving Cream | Test for Module 3 | Material didático CTL.SC0x | edX
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Assume that marketing is correct and the correlation = 0.66.
What is the standard deviation of the weekly revenue?
Write your answer as a number with at least 2 decimal places.
 
 
Part 3
Assuming the joint distribution is normal, and the marketing team’s correlation of 0.66 is correct. What is the probability that
weekly sales will be between 10,000 and 20,000 dollars?
Enter your answer in decimal form rounded to the nearest hundredth. For example, if your answer is 23.2%, you should enter .23 in the box below.
 
 
03/07/2020 Problem 2 - Shaving Cream | Test for Module 3 | Material didático CTL.SC0x | edX
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Part 4
Which of the following statements are true:
Choose the correct answer.
You have used 0 of 15 attempts
The population mean is always greater than the sample mean.
Everything else being equal, the Con�dence Interval for a sample increases with the number of observations (n) in the
sample.
The t-distribution is used for small sample sizes instead of the Normal.
Holding all else equal, reducing the probability of a Type I error actually increases the probability of a Type II error.
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