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Author Question: A restaurant stocks 600 hamburgers and 150 chicken sandwiches for a given day. Assume that the ... (Read 59 times)

leo leo

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on: Jun 24, 2018
A restaurant stocks 600 hamburgers and 150 chicken sandwiches for a given day. Assume that the demands for hamburgers and chicken sandwiches are probabilistically independent. Why is the independence assumption in this scenario probably not realistic? Using a more realistic assumption, do you think the probability would increase or decrease?

Question 2

In regression analysis, the variable we are trying to explain or predict is called the:
 a. independent variable
  b. dependent variable
  c. regression variable
  d. statistical variable
  e. residual variable


mohan

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Reply #1 on: Jun 24, 2018
Answer to Question 1

It might not be realistic to assume independence. If hamburgers and chicken sandwiches are substitute products; that is, a customer will order one if there is none of the other, then the two demands would be positively correlated. Still, it is not clear that this would have a large effect on the probability in Question 132.

Answer to Question 2

b


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