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Suppose that your company manufactures computer equipment and you must determine if a supplier of your company meets the required product specifications. If the supplier does not meet the specifications and your company continues to buy from it, serious consequences will occur. If your company buys from another supplier, little is lost. State the hypothesis you must use. How large should you assign the significance level? Why?
A real estate company wants to study the relationship between house sales prices and some important predictors of sales prices. Based on data from recently sold homes in the area, the variables
Why is it important that a sample be random and representative when conducting hypothesis testing?
An electrical firm manufactures light bulbs that have a length of life that is approximately normally distributed. If a sample of 16 bulbs has an average life of 50 hours and the population standard deviation is known to be 10 hours.
Please define correlation and regression. Describe a management or business-related scenario where a researcher might be interested in whether a number of variables are correlated (without any assumptions about causation).
To find z-score and required probabilities based on Normal distribution. Assume that childrens weekly allowances are normally distributed in the population.
Why is sampling strategy important? Please provide one or two examples from your work or past experience?
What fraction of the calls last between 4.2 and 5 minutes?
Clearly identify the independent and dependent variables you would study, including the number of levels of the independent variable.
Testing for two Proportions - Is the difference between the averages statistically significant?
Suppose that you perform a significance test regarding a population mean, and that the evidence does not warrant rejection of the null hypothesis.
In terms of p , the researcher should test which of the following null and alternative hypotheses?
An industrial engineer at Lyons Products would like to determine whether there are more units produced on the afternoon shift than on the morning shift.
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