The Following Table Shows the Results of a Survey of 380

question 223

Essay

The following table shows the results of a survey of 380 authors by a (fictitious) publishing company:
$$\begin{array} { | l | l | l | l | } \hline & \begin{array} { l } \text { New } \\\text { Authors }\end{array} & \begin{array} { l } \text { Established } \\\text { Authors }\end{array} & \text { Total } \\\hline \text { Successful } & 80 & 20 & 100 \\\hline \text { Unsuccessful } & 120 & 160 & 280 \\\hline \text { Total } & 200 & 180 & 380 \\\hline\end{array}$$ ​
An established author is chosen at random.
Compute the estimated probability of the event that the established author is successful.

Apply hypothesis testing in the context of linear regression, including tests for the slope and intercept.

Interpret statistical software output for regression analysis.

Explain the relationship between explanatory and response variables in a regression model.

Understand the concept of prediction intervals within the context of regression analysis.

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Definitions:

Operating Expenses

Expenses incurred from a company's primary business activities, excluding cost of goods sold, such as rent, salaries, and utility bills.

Gross Profit

The difference between revenue and the cost of goods sold, before deducting overhead, payroll, taxation, and interest.

Cost of Goods Sold

Cost of goods sold is the direct costs attributable to the production of the goods sold by a company, including material and labor expenses.

Gross Profit Rate

The ratio of gross profit to net sales, expressed as a percentage, indicating the efficiency of a company in managing its direct costs.