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Demonstrate your understanding of choosing the type of regression model to the given data, by explaning three factors that should be taken into account in the choice between different models.
A gambler loses 10 times running at roulette. He decides to continue playing because he is due for a win, by the law of averages. A bystander advises him to quit, on the ground that his luck is cold. Who is right? Or are both of them wrong?
Compute the optimal production quantities for the company?
Compare your best difference to the result from an ordinary two-sample t-test between these groups. Comment the difference.
Compute the range and interquartile range
At the .05 significance level, is the number of units produced on the afternoon shift larger?
If we want to increase our confidence level from 95% to 99%, what happens to our confidence interval?
At.02 significance level is it sensible to conclude that mean number of shoes sold at mall stores is larger than at outlet stores?
What is the margin of error for a 95% confidence interval for the difference of the two means (low capacity - high capacity)? (Answer to the nearest hundredth.)
A coin is tossed 20 times. A person, who claims to have ESP is asked to predict the outcome of each flip in advance. She predicts correctly on 14 tosses.
A random sample of 200 people was taken. Sixty percent of the people favor President Obama. The 95% confidence interval for the true population of people who favor Obama is?
How much would ING be willing to pay if the General Counsel could arrange for an absolutely reliable mock trial?
Fitting of simple linear equation - Prepare an equation showing how daily sales are related to number of customers per day.
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