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What are the characteristics of a normal distribution? Why is the normal distribution important in statistical analysis? What is the Standard Normal Distribution? Can you think of a variable that is normally distributed?
Correlation between the two variables - Evaluate the value of the correlation coefficient.
Construct a 99% confidence interval for the mean time taken by all statistics students to solve the computer assignment.
An important idea in data interpretation is choosing which graph to use under which circumstances. Describe the benefits of different graphs for different sets of data:
Suppose that the average annual salary for a worker in the United States is $30,000 and that annual salaries for Americans are normally distributed with a standard deviation equal to $7,000. Determine the following:
Suppose population standard deviation for those drinking regular coffee is 1.20 cups per day and 1.36 cups per day for those drinking decaffeinated coffee.
Kurt's Adventures, Inc. stock is quite cyclical. In a boom economy, the stock is expected to return 30% in comparison to 12% in a normal economy and a negative 20% in a recessionary period.
Of those mountain climbers who attempt mt. McKinley, only 60% reach the summit. In a random sample of 14 mountain climbers who are going to attempt mt. McKinley, what is the probability of each of the following?
Burnwood Tech plans to issue some $60 par preferred stock with a 6% dividend. A similar stock is selling on the market for $70. Burnwood must pay flotation costs of 5% of the issue price.
An automobile manufacturer has a new model that they claim gets 27 miles per gallon. A consumer testing agency chooses 50 of these cars and finds that the sample mean is 25 miles per gallon and the sample standard deviation (s) is 3 miles per gall..
What is the probability that the mean breaking strength of the 3 untreated specimens is at least 25 pounds greater than the mean strength of the 3 treated specimens?
Of the registered voters contacted, 33% are registered Democrats. Is each of the boldface numbers a parameter or a statistic?
For a candidate who guesses at all answers, find the mean and variance for the random variable X, the number of correct answers.
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