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Twelve auto engine crankshafts measure: 224.120; 224.001; 224.017; 223.982; 223.989; 223. 961; 223.960; 224.089; 223.987; 223.976; 223.902; 223.980. Dimension is thought to be 224 mm and variance is unknown for manufacturing process. Is there evidence that mean dimension is not 221 mm? Suppose population is normally distributed. Use a=0.05 and critical value method.
Calculate expected value for each decision and choose the best one. Find out how much firm would be eager to pay to a market research firm to gain better information about future market conditions.
What are the similarities and dissimilarities between a chi-square analysis and a correlation analysis? Suppose you conducted a study to see if there was an association between political party affiliation and whether or not someone voted.
Does this sample indicate a smaller average? Use α = 0.05 and assume a normally distributed population.
Is there an alternative test to the chi squared test? What if my results give an expected frequency below 5, which stats book states that these should be treated with caution?
"If you took 40 employees at random from the corporation, there is a pretty good chance the average number of days absent would be 12 or more. That's what happened to us - chance variation." Is this a good defense? Justify your answer.
Cars pass a certain street location according to a Poisson process with rate λ. A woman who want to cross the street at that location waits until she can see that no cars will come by in the next T time units.
What is the difference between an independent and a dependent variable? Does a regression model imply causation? Why or why not?
Suppose there are two samples of size 6 and 7, with a rank sum of 58 in the sample of size 6. Using the Wilcoxon rank-sum test, evaluate the significance of the results, assuming there are no ties.
Compute the Kappa statistic and its standard error regarding reproducibility of the diagnosis of dyspnea in the clinic.
Can you conclude that information in article is untrue? Use 0.05 significance level. Find out p-value and explain its meaning.
Briefly discuss probability distributions. What is a normal distribution? Please provide a written example of how 'understanding distribution' can be an asset for any business project.
Calculate the mean, median, range, and standard deviation for the Body Fat Versus Weight data set. Report your findings, and interpret the meanings of each measurement.
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