Solution for Statistics – Supply and Demand Task
(a) β̂1 = −0.75317
Confidence interval is: ( −0.8050502, −0.7012837 )
(b) For a variable to be valid instrument for log_p , it should be correlated with log_p but
uncorrelated with error term (UI
)
Selected supply and Logistics company: Muscat International shipping and Logistics
Muscat international shipping and Logistics has a great track record for the logistics services in the company. The company has over fifteen years of experience in logistics services. The system which is applied in Muscat international is related to the smooth and pre-post shipment of the freight (Ho, Zheng, Yildiz, & Talluri, 2015).The system which Muscat international shipping and logistics apply for controlling the mode of transportation uses the Cargo wise system for most of the entries. This systemis adopted conventionally from three to four years and it has benefit to provide a solution to the company. Continue reading
Use of Statistics has been on the rise. Today, every company is using statistical and analytical tools to analyze data in a matter of few minutes. Earlier, people used to gather data through various sources and to analyze this data it used to take weeks and months together. Continue reading
Use of Statistics has been on the rise. Today, every company is using statistical and analytical tools to analyze data in a matter of few minutes. Earlier, people used to gather data through various sources and to analyze this data it used to take weeks and months together. Continue reading
Artificial intelligence is taking the world by storm. This has made has a strong mark in the technology and manufacturing industries. This is also helping organizations to analyze the data. Today, technology has gone to the extent where a computer is able to talk to humans, recognize their faces and even is turning off the lights and refrigerators in our homes. Continue reading
A student of statistical modeling needs to know and understand Regression analysis. This is used to find out the relationships which are there between variables. There are different kinds of techniques which can be used for analyzing and modeling several variables and this is also when the relationship needs to be focused on the independent variables and the dependent variables. Continue reading
Plenty of statistical analysis software like Minitab, SAS, and SPSS are available for statistical analysis. You should check the below-mentioned points to judge the accessibility of statistical software- Continue reading
What is Regression Analysis?
Regression Analysis is a statistical approach to predict the change in a dependent variable like revenue, sales etc. due to change in one or more than one variables like income, population etc. Regression assists financial and investment managers to evaluate the assets and know the relation between variables like commodity prices and business stocks dealing in such commodities. Continue reading