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In a test of the independence of two variables, one the variables has two possible categories and the other has three possible categories. What will be the critical value of chi-square if the test is to be carried out at the 0.025 level? At the 0.05 level?
Using the 0.10 level of significance, is there evidence that the population mean is above $300?
Conduct the following test using 95% level of confidence.
The manager of a department store wants to determine what proportion of people who enter the store use the store's credit cards for their purchases.
Suppose that the probability that a new medication will cause a bad side effect is 0.03. If this medication is given to 150 people, what is the probability that exactly three of them will experience a bad side effect.
What do the coefficients of the regression line tell you about the relationship between mortgage rates and housing starts?
Write all the possible samples of size 2 and calculate the average or median of each one.
Final scores averaged 66 for the treatment group; the SD was 21. For the control group, the figures were 59 and 20. What do you conclude?
Is there evidence of a difference in the median performance between the two methods? (Use x = 0. 05).
The exercise problem the following information to figure prevalence and incidence rate:
Construct a 95 percent confidence interval for the difference in proportions for the two populations represented by these samples.
What is the role of probability concepts in business decision making? Define probability concepts.
Use Chebyshev's theorem to find what percent of the values will fall between 120 and 150 for a data set with mean of 135 and standard deviation of 7.5
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