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A statistical study reported that a drug was effective with a p-value of .042.
(a) Is this true? An effective sample may be found about 42 times in 1000 samples.
(b) Is the drug effective at alpha = 0.05?
(c) Would a drug that has a p-value of .087 be more effective?
The expense ratio of a mutual fund measures the percentage of the fund's assets used to pay for annual administrative overhead. Funds with higher ratios spend more of the fund's return to operate the fund.
Find out the value of test statistic utilizing one sample proportion testing. Use the subsequent information for the below questions.
When performing a chi-square test for independence, explain how the "cell frequencies under the independence assumption" are calculated.
You calculate the difference in income as (after incentive plan - before incentive plan). You want to test whether income after the incentive plan is different from income before the incentive plan. What are the hypotheses for this test?
The first unit produced after the calibration effort to be found to be defective. What is the probability that machine is in adjustment?
As long as there is either an upward or downward trend in the data, will a k-period moving average have a smaller mean square error than a moving average obtained with k+1 periods? Why or why not?
Is there a significant difference in the proportions of patients reporting pain relief? Run the test at a 5% level of significance.
The calculated chi-square test statistic and the table value for a 0.05 significance level are:
Assume the population standard deviation is 1.2 hours. The standard error of the mean is:
Differentiate between descriptive statistics and inferential statistics. Provide an example for each. How does correlation analysis differ from regression analysis? What does a correlation coefficient reveal? Is correlation the same as causation?
Compute β-error of test in part (a) if true difference in mean burning rate is 2.5 centimeters per second.
Method of assigning probabilities based on historical data is known the?
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