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An auto manufacturer advertises that 90% of the cars weve ever made are still on the road.
a) Assuming this is literally true, how can it be explained?
b) What facts / statistics would you need to know to expose this misleading claim?
A sample of 25 MBA students taking OTM course in the Spring of 2013 shows an average income of $85,000 with the sample standard deviation of $5,000. Find the 95% confidence interval of the population mean income of MBA students.
What variables will be included, and collection methods used to obtain data. What is the population, sampling method used and why it is the best. Plan for data: describe what you will do with data once you have it, include types of graphs used and..
First explain what the Gini coefficient is and what hypothetical Gini values of 0 and 1 mean. Sort the data by the Gini coefficient in 2000 and look at the list of countries.
A chance sample of 50 families revealed an average or median of $112,000 and a standard deviation of $40,000. What is the standard error of the average or median?
Given the following data, 1) how do you make Excel create a scatter diagram for you? 2) If you were to draw a line through the points, how straight would the line be?
In a normal distribution with mean 3 and variance 49, what are the upper and lower limit scores for the middle 50% of the data?
When an experiment is conducted, one variable is manipulated to see the impact on another variable -- that's why experiments address causation.
The mean construction time for a standard two-car garage by Arrowhead Construction Company is 3.5 days. The time for the construction process follows the normal distribution.
The summation sign is usually represented by:
What are examples in which non-parametric tests are used to analyze business related problems in general, and more specifically, problems related to marketing?
A well-established power-drink dispensing machine is programmed to dispense an average of 2.02 liters into a container labled"2 liters". Actual quantities are known to be normally distributed with a standard deviation of 0.015 liters. What is the ..
The BATF wants to evaluate true average lead level for California wines to within 29 parts per billion at 95% level of confidence?
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