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The average cost of a renting a compact size car in a major metropolitan area is R51.74 with a standard deviation of 7.48. Assume a normal distribution. If a sample of 20 cities is taken, what is the probability that the sample mean will fall between 47.74 and 55.74
The average cost per night of a hotel room in New York City is $273 (SmartMoney, March 2009). Assume this estimate is based on a sample of 45 hotels and that the sample standard deviation is $65.
In a sample of 1200 police officers, the mean annual salary was $33,000 and the standard deviation was $3200. A random sample of size 70 is drawn from this population. What is the probability that the mean annual salary is between $32,000 and $32,..
The mean of a normal probability distribution is 60; the standard deviation is 5.
A scatter diagram that plots the values of the residuals against the values of the dependent variable
Compute the Relative risk (RR) of ADR with Drug A compared to Drug B. Show all calculation. Interpret the RR value. Do you arrive at the same conclusion based on the OR estimate and RR?
Regression and Correlation are two of the most often used and abused tools in research. People are quick to jump to conclusions that if a relationship exists between two variables, then one must cause (causation) the other. There are many reasons ..
Assume you want to repeat the FDA experiment to achieve an estimation of the mean μ of the amount of caffeine content of a cup of coffee.
If not what would be a better testing strategy? Could you form a Null Hypothesis or an Alternative Hypothesis? If yes, what would they be.
In terms of p , the researcher should test which of the following null and alternative hypotheses?
Your objective is to maximize the expected utility of your final fortune (after 4 bets). If you are a log-utility investor, determine the optimal policy and find the maximal expected utility.
Plot the data on the same line and give your impression regarding any apparent differences between the two companies.
Determine whether descriptive or inferential statistics have been used in the statement below:
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