1. Here are the results of an analysis of WTI and UNL prices. Notice that WTI is in USD/bbl while UNL is in USD/gal. Your client wants to know the 99% USD/bbl of the difference in credibility intervals. Report the difference and the ratio of the two intervals. Explain to the client what the result means. Provide your answer directly below along with the reasons for the calculations you made. Be sure to show all of your work in your notebook. Take a photo of the page in the notebook and upload it below. Your answer variable mean WTI variable mean UNL min 49.44 min 2.29 25% 66.70 25% 2.76 50% 71.20 50% 2.88 75% 75.94 75% 2.99 max 99.13 max 3.59 IQR 9.23 IQR 0.23 0.25 fence 52.86 0.25 fence 2.41 0.75 fence 89.78 0.75 fence 3.34 mean 71.33 mean 2.88 sd 6.92 sd 0.17 mad 5.52 mad 0.14 skewness 0.06 skewness 0.04 kurtosis 2.97 kurtosis 3.00 count 10000 count 10000 credible credible 99% 99% interval interval 0.5% 54.09 0.5% 2.44 99.5% 89.45 99.5% 3.33

true or false: If a 90% CI for the difference between two means is calculated to be [ 6.2, 9.6] then in words this is interpreted as the 90% of the time the true population difference in means will be between 6.2 and 9.6

Q3. Please answer fill-ins.

A major software company is considering a price increase on its most popular product.   They are currently selling below their competitor’s price. Someone from the Brand team suggested they check consumer response before making a price increase. You are called into explain how this marketing research might be carried out.  In terms of qualitative and quantitative options you tell them...