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You are estimating the cost of engine overhauls. A sample of 49 repairs showed an average overhaul of 285 hours with a standard deviation of 50 hours. Calculate a 95% confidence interval for the average overhaul.
Need to come up with a regression model to forecast monthly sales of cold beverages for the next year. What variables might be included in the model?
Consider a gambler who at each play of the game has probability of winning one unit and probability of loosing one unit. Assuming that the successive plays of the game are independent,
The Type 1 error states the probability of being wrong whenever:
This question is asking for speculation about the possible results of a study if we change the size of the population. It all depends on unknowns such as how representative the 100 adults are of the population.
Consider a problem where we two products: Product A (cloth bags) and product B (leather bags). Each unit of Product A that is sold produces $30 in profit and each unit of Product B that is sold produces $50 in profit.
What is your decision regarding the null hypothesis and interpret.
What are the assumptions that must be met for non-parametric statistics? What are the positives and the negatives of the chi-square test?
In a recent study, a random sample of children in grades two through four showed a significant negative relationship between the amount of homework assigned and student attitudes. What is the explanatory variable and what is the response variable?
Test for single Proportion - Are the data consistent with the model? Answer yes or no, and explain briefly.
Factor the following trinomial using the AC method
In a normal distribution with mean 3 and variance 49, what are the upper and lower limit scores for the middle 50% of the data?
The U.S. government recently reported that the proportion of people feeling negative about the economy was only 30%. However, a recent poll by CNN/Gallup found that in a sample of 1000 people 450 of them felt negative about the economy.
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