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The television networks often compete on the evening of the day of an election to be the first to identify the winner of the election correctly. One of the techniques often used is the random sampling of voters as they exit the polling booths. Suppose that, in a two-candidate race, 55% of a random sample of 500 voters indicate that they voted Republican.
Can we conclude at the 5% level of significance that the Republican candidate will win? State your answer in non-technical terms.
A population proportion is to be estimated. Estimated the minimum sample size needed to achieve a margin of error E=0.01 with a 95% degree of confidence.
Work up a simulation model to examine the uncertainty for five different investment projects. p1 = 0.5, p2 = 0.35, p3 = 0.65, p4 = 0.58, p5 = 0.45. The outcomes of the projects should be viewed as independent since the projects are run by di..
what is the point estimate for the mean hospital cost for victims who wore seat belts and construct and interpret 99percent conf interval estimate for the mean hospital costs for accident victims who wore seatbelts.
The manager of a furniture company has collected data on the amount of money spent on advertising and sales revenue for the last ten months. The data is as follows
Create a histograms for variable height-pull up Graph
Why does a p-value provide a true measure of statistical significance? Try to relate your answer to previously covered concepts - example continuous probability distributions.
A crucial step is offering participants a food reward
One measure of the risk or volatility of an individual stock is the standard deviation of the total return (capital appreciation plus dividends) over several periods of time. Al though the standard deviation is easy to compute, it does not tak..
Allergic reactions to poison ivy can be miserable. Plant oils cause the reaction. Researchers at Allergy Institute did a study to determine the effects of washing the oil off within 5 minutes of exposure. A random sample of 1000 people with known all..
Calculate mortgage rates, production lot size, forecast the demand for the products, track epidemics and their spread, help solve crimes, even help estimate tax revenues.
Calculate the total tax bill for both low and high income individuals in both countries and fill in the table above with your results and what is the unemployment rate
Let X1, X2 be two random variables with joint pdf f(x1, x2)=4x1x2, 0
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