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Researchers routinely choose an alpha level of 0.05 for testing their hypotheses. What are some experiments for which you might want a lower alpha level (e.g., 0.01)? What are some situations in which you might accept a higher level (e.g., 0.1)?
The article claims that the distributions of annual returns for both common stocks and long-term government bonds are bell-shaped and approximately symmetric. Assume that these distributions are distributed as normal random variables with the mea..
Determine the value of the finite population correction factor if population size is 1000 and the sample size is 300? What is the smallest sample size for which finite population correction factor must be Used?
The owner was interested in the mean time required to service this model, and decided not to carry the model if the mean repair time appeared to be more than 40 minutes.
Part 1. What is the appropriate distribution for such data? Part 2. Is this lot anomalous?
The following frequency distribution was obtained. The data values are in hours. Construct a histogram for the data .
Find the probability that fewer than 10 of those sampled currently have access to online services.
A study published in the New England Journal of Medicine (Aug. 2001) suggests that it's dangerous to enter a hospital on a weekend. During a 10-year period, researchers tracked over 4 million emergency admissions to hospitals in Ontario, Canada. T..
The weight of the first orange minus the weight of the second orange) is a random variable with standard deviation and individual outcomes are uncertain but happen in a predictable manner through time.
Develop a 99% confidence interval for the population proportion.
Construct a scatter plot of P-RFM and P-HELM. If drawing the plot by hand, use graph paper to ensure accuracy.
Use a 1% level of significance to test the claim that there are more calls during the night than in the day.
Note down a research that requires a decision making with probabilities.
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