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1. Briefly remind us of the two variables in your correlation and the operational definition of each.
2. State the null hypothesis and the alternative hypothesis (be sure to clearly label each one) for your correlation.
3. Explain what it would mean if we rejected the null hypothesis with an alpha level of .05. Be as specific as you can.
4. Explain the difference between a descriptive statistic and an inferential statistic in the context of your specific study. What does an inferential statistic tell us that a descriptive statistic doesn't tell us?
Using the following data on 15 workers, construct an exact 95% confidence interval for µ.
Formulate a linear programming model for this problem (using QM on Windows and/or Excel on Windows)
Suppose that 10 years ago the average annual expense for stock funds was 1.19 percent. Let µ be the current mean annual expense for all stock funds, and assume that stock fund annual expenses are approximately normally distributed.
The random variable x is known to be uniformly distributed between 1.0 and 1.5.
1) What is correlation? 2) What is an example of two variables that are likely to be correlated because they are both changing over time?
Let z be a standard normal random variable and calculate the following probabilities:
Create a 99% confidence interval estimate of population mean amount of paint included in a 1 gallon can.
Last year the average deposit for all 10,000 clients was $25,000 with a standard deviation of $30,000. Do you think a small sample of 25 is enough to give them the margin of error they want? If not, how large a sample do you suggest they need to t..
Extrapolating this data by using the sum of squares method would further reveal any discretionary variances in relationship to the mean?
The x and the y variable in the table below are correlated. Determine the 'R' value, and then determine the regression equation.
The probability of recovery for a certain disease is 0.65 or 65%. If 50 people are stricken, what is the probability that
Although the rules of probability are just basic facts about percents or proportions, we need to be able to use the language of events and their probabilities.
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