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Locate the results of a recent survey in a newspaper, magazine, or Internet article. Outline the survey data so that your peers can understand the variables and results, and then identify at least one key formula from this Module that you could use to evaluate the data. Provide a brief explanation of why you selected the formula you did and why it matters.
Estimating the combined mean values for the given data - find the mean for the combined sample
Test at 5% significance level null hypothesis that population mean is 40 hours against alternative that it is higher.
Show the sampling distribution of p if a random sample of 150 insured individuals is used to estimate the proportion having received at least one ticket.
The average hourly wage of employees of a certain company is $9.83. Assume the variable is normally distributed.
Two mating parts have critical dimensions x1 and x2 as shown below. Assume that x1 and x2 are normally distributed with means 1 and mean2 and standard deviations s1 = 0.400 and s2 = 0.300.
At the .05 significance level, can we conclude that there is a difference in their mean times?
Does the normal distribution yield a good approximation of the actual results?
Pick a random sample of 50 homes from the enclosed 90 cases. Double the asking price and selling price and use this data to develop three predictive models:
Conduct an analysis of variance
How large sample should be selected in order to obtain p estimate with a bound of 0.08 on the error of estimation.
What does it mean for two random variables to be uncorrelated?
You take a random sample around town and calculate a p-value for your hypothesis test of 0.0913. What is the appropriate conclusion? Conclude at the 5% level of significance.
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