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Assume the financing gurus of a weekend investment television program predicted a 50% chance of XYZ stock gaining in January and a 50% chance of gaining in February. Your financial advisor sees this and tells you there is a 100% chance XYZ stock will gain over the 2-month period. Would you continue to use this financial advisor? Explain.
A machine that manufactures automobile parts is estimated to produce defective parts 5% of the time. If this estimate is correct, and 9 parts produced by this machine are randomly selected
Tests of hypothesis for two populations. List one test statistic that could be used for comparing two populations with hypothesis testing. Can you think of an example where this could be used?
The average score in the sample was 84 with a variance of 12.25. The 95% confidence interval for the average examination score of the population of the examinations is?
The president of the American Insurance Institute wants to compare the yearly costs of auto insurance offered by two leading companies.
What is the probability that the project will be completed in 17 months or less?
A large population of overdue bills has balances that fallow a normal curve. When we take a sample of 100 of these the average is $500 and the standard deviation is $100.
Explain the chi-square test of homogeneity and show the formula for the test statistics for the test of homogeneity. Describe a sign and test and show the six steps of the test-of-hypothesis procedure.
Sam Sleep researcher hypothesizes that people who are allowed to sleep for only four hours will score significantly lower than people who are allowed to sleep for eight hours on a management ability test.
what statement should be made about the null and alternative hypothesis based on sample data and significance level?
A recent study claimed that 15% of all eighth- grade students are overweight. In a sample of 80 students, 9 were found to be overweight. At a= 0.01, is there enough evidence to reject the claim using critical values?
What is the probability that of the last 100 new juvenile delinquents put on probation, 30 or more will commit another crime?
You do not need to collect data and actually conduct the test calculations. Rather,state the claim, define the null and alternate hypotheses, identify the test significance and the test statistic, and state the decision rule that will be used.
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