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Based on a simple random sample of one hundred an analyst estimates the average hourly wage earned by workers in a city to be $30 and computes the margin of error to be $5. Can we conclude from this that most workers there earn between $25 and $35 per hour? Is this the right interpretation for the margin of error?
In this paragraph, be sure to make it clear how you handled the issue of conducting three planned comparisons. Also provide the ANOVA summary table for these results.
Explain the difference between multiple independent variables and multiple levels of independent variables. Which is better?
Findout the 98% confidence interval for true mean. Findout a 98% confidence interval for the cigarette tax in all 50 states.
Critically discuss how you can apply the concept and method of interval estimation to help you solve some of the problems in a regularly accounting department. Give a few examples.
A loan application is received this morning. What is the probability that:
Interpret the meaning of the slopes of the given multiple regression equation
Design a Linear programming problem for the flair Furniture Company and find the combination of tables and chairs that the company must produce to maximize profits.
What is the approximate permutation test P-value and What is the permutation test P-value for testing the equality of the means versus the hypothesis that the mean change for the treatment group is larger than the mean treatment for the control gro..
In the following questions, you should demonstrate your understanding of sampling distribution:
Random sample of 100 people yielded following data on number of tissues utilized in a cold: x-bar = 38, s = 20. By using sample information provided, compute the value of test statistic for the relevant hypothesis test.
Assume that increasing and decreasing allergic reactions are equally likely if the training has no effect. Use alpha = .05
Test whether the mean rate is less than 6%. Use P-value approach.
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