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Why is the population shape a concern when estimating a mean? What effect does sample size, n, have on the estimate of the mean? Is it possible to normalize the data when the population shape has a known skew? How would you demonstrate the central limit theorem to your classmates?
Why do so many of life's events share the same characteristics as the central limit theorem? Why are estimations and confidence intervals important? When might systematic sampling be biased? Explain. What roles do confidence intervals and estimation play in the selection of sample size?
What do confidence intervals represent? What is the most controllable method of increasing the precision of or narrowing the confidence interval? What percentage of times will the mean, or population proportion, not be found within the confidence interval?
Mean of 3 goals per game. Find the probability that each of four randomly selected state college hockey games resulted in 6 goals being scored.
Find the critical t alpha/2 assuming the population is normally distributed, the confidence level is 95%, n=101 and sigma is unknown.
Test the claim that for the adult population of one town, the mean annual salary is given by μ = $30,000.
Find the critical value z that corresponds to the given confidence level of 90%.
Show that if Z1 and Z2 are independent standard normal random variables, then for all ρ (correlation), Z 1 and ρZ 1 +sqrt(1-ρ 2 )*Z 2 are standard normal with correlation ρ.
What does this story say about hypothesis testing and research? What is the likelihood of this happening? There are number of safeguards in place so this should not happen.
Consider an experiment that results in a positive outcome with probability 0.38 and a negative outcome with probability 0.62. Create a new experiment consisting of repeating the original experiment 3 times. Assume each repetition is independent of..
What statistical procedure was used to analyze data in study B?
If two people are randomly selected, what is the probability both are hopelessly romantic? What is the probability at least one is hopelessly romantic.
Compute descriptive statistics for each stock and the S&P 500. Comment on your results. Which stocks are the most volatile? Compute the value of beta for each stock. Which of these stocks would you expect to perform best in an up market? Which..
Please share 3 real world examples of problems, which occurred due to the use of secondary data. Be specific about the consequences as well the secondary data used. You may use your own organization or research the net or literature for this one.
Securities Exchange Commission (SEC) was $22,500, with a standard deviation of $7,500. The SEC overseers want to draw a sample of 100 accounts to help assess the impact of the fund's freeze on the account holders.
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