Summary
In this paper we have illustrated the basic techniques of statistical analysis and hypothesis testing relating to a real-world business problem. This analysis helps the company management to better understand the production strategy. It was found that there is a strong association between height of the student and his (her) shoe size. The approximation model was constructed to make forecasts of shoe size with given height of a student. It also appeared that the sizes of shoes of men and women are significantly different. That’s why the company can’t produce one type of sport shoes for both Continue reading...