Question
In: Statistics and Probability
From the information below I need to find the best predicted probability of having a new...
From the information below I need to find the best predicted probability of having a new client give the highest level of satisfaction.
The first item you want to highlight is your customer satisfaction record. Over the past 18 months of employment you have worked with 24 clients, and according to the customer satisfaction surveys all clients are asked to take after their contract is completed, 22 of them rated you with the highest level of satisfaction. Use this information to find the best predicted probability of having a new client give the highest level of satisfaction.
Solutions
Expert Solution
We have the probability of clients who had the highest level of satisfaction from the sample = 22/24
To get the best predicted probabillity, we have to get the 95% confidence interval of the probability that could be due to margin of error.
Let's find the confidence interval. The formula is:
z (95% confidence level) = 1.96
p = 0.92, N = 24
CI: (0.92 - 0.12, 0.92 + 0.12)
CI: (0.80, 1.04)
Hence, best predicted probability = 80%
orchestra answered 1 year agoRelated Solutions
Find the regression equation, letting the diameter be the predictor (x) variable. Find the best predicted...
Find the regression equation, letting the diameter be the
predictor (x) variable. Find the best predicted circumference of a
marble with a diameter of 1.9 cm. How does the result compare to
the actual circumference of 6.0 cm? Use a significance level of
0.05.
_ Diameter Circumference
Baseball 7.3 22.9
Basketball 23.6 74.1
Golf 4.2 13.2
Soccer 21.8 68.5
Tennis 6.9 21.7
Ping-Pong 4.0 12.6
Volleyball 20.8 65.3
The regression equation is y^= + x.
(Round to five decimal places as...
Find the regression equation, letting overhead width be the predictor (x) variable. Find the best predicted...
Find the regression equation, letting overhead width be the
predictor (x) variable. Find the best predicted weight of a seal
if the overhead width measured from a photograph is 1.5 cm. Can the
prediction be correct? What is wrong with predicting the weight in
this case? Use a significance level of 0.05.
Overhead Width (cm)
8.2
8.1
9.7
8.6
9.8
8.9
Weight (kg)
156
182
241
171
241
210
The regression equation is
(Round to one decimal place as needed.)...
Find the regression equation, letting overhead width be the predictor (x) variable. Find the best predicted...
Find the regression equation, letting overhead width be the
predictor (x) variable. Find the best predicted weight of a seal
if the overhead width measured from a photograph is 2cm. Can the
prediction be correct? What is wrong with predicting the weight in
this case? Use a significance level of 0.05 from table = .811.
Overhead Width (cm) 7.6 8.1
9.5 8.9 9.1 7.9
Weight
(kg)
142 193 244 193
224 179
The regression equation is y (with caret) =...
I chose the temperature of New Jersey in two different months as below, I need to...
I chose the temperature of New Jersey in two different months as
below, I need to calculate mean, median, mode, and range for each
group. Find the variance and standard deviation for each group.
Find the 95% confidence interval the mean of each group and test
the hypothesis that the means are different (.05 significance)
January
March
1
41
46
2
50
62
3
48
59
4
52
58
5
45
54
6
46
47
7
44
49
8
45...
I chose the temperature of New Jersey in two different months as below, I need to...
I chose the temperature of New Jersey in two different months as
below, I need to calculate mean, median, mode, and range for each
group. Find the variance and standard deviation for each group.
Find the 95% confidence interval the mean of each group and test
the hypothesis that the means are different (.05 significance)
January
March
1
41
46
2
50
62
3
48
59
4
52
58
5
45
54
6
46
47
7
44
49
8
45...
I need step by step instructions on where to find the information to answer this question:...
I need step by step instructions on where to find the
information to answer this question:
Your task involves an analysis of general economic conditions or
systematic risk, i.e., the risk that affects all industries and
companies, in the U.S. macroeconomy. Your goal is to determine in
percentage terms an optimal allocation of $1,000,000 among the
following three asset classes: U.S. equities, U.S. Treasury bonds,
and cash.
The goal is to maximize your expected return over the next 12
months....
Use the data consisting of IQ score and brain volume (cm cubedcm3). Find the best predicted...
Use the data consisting of IQ score and brain volume
(cm cubedcm3).
Find the best predicted IQ score for someone with a brain volume
of 1003 cm cubed. Use a significance level of 0.05.
Brain Volume IQ
score
900 85
1275 102
936 102
1444 98
1473 112
1263 129
1090 93
1218 89
1324 89
1364 82
942 97
1490 129
1339 82
1159 85
1087 92
964 127
1138 113
1058 93
1365 96
1081 115
The regression...
Please I need a new answer for the below questions, Due to the remarkable raise and...
Please I need a new answer for the below
questions,
Due to the remarkable raise and advancement of technology, lots
of large companies are moving forward to digitalize and virtualize
how they do business internally and externally, such as virtual
teams. Moreover, one of the virtual team advantages is the ability
for a company to create the dream team without boundaries as it
eliminates the element of desistance, core knowledge and skills
limitation. With all these wonderful components there are...
My company is General Dynamics Corporation and I need to get information on a competitor. Find...
My company is General Dynamics Corporation and I need to get
information on a competitor.
Find financial ratios for the company for the last 1-3 years and
its major competitor General Dynamics Corporation (GD) for the last
year in the Internet.
a. Present the ratios as the table(s) in your project.
b. Write an analysis of the ratio results that you found.
Compare the ratio results against the industry or main competitor.
In your analysis you should answer the following...
I am having an informal information interview on Wednesday with a guy from Goldman Sachs and...
I am having an informal information interview on Wednesday with
a guy from Goldman Sachs and I have to impress him by asking him
questions that will show that am knowledgeable about real estate
finance and asset management. What are the 20 questions and what
sort of knowledge do you think I should have to go into this
interview?
ADVERTISEMENT
ADVERTISEMENT
Latest Questions
- Compare and contrast the different theories of color vision and how the theories explain our perceptions....
- Bledsoe Corporation has provided the following data for the month of November: Beginning Ending Raw materials...
- Describe the differences between the following and listany particular advantages possessed by one over the other:...
- 4. A friend has suggested that you should consider investing in an equity hedge fund because...
- A group of students Their plan is to sell an existing product in another country. They...
- Ways of eliciting requirements include: A. Conduct meetings with developers B. Conduct meetings, interviews, surveys, questionnaires,...
- Create a Home Page: Part 1 • Contain an image or logo about your website. •...
ADVERTISEMENT