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The average cost of a one bedroom apartment in a town is $550 per month. What is the probability of randomly selecting a sample of 50 one bedroom apartments in this town and getting a sample mean of less then $530 if the population standard deviation is $100?
The mean monthly demand for steam boilers is 6.8 with a standard deviation of 1.7. Compare the dispersion of these distributions. Which demand pattern has more relative variation? Explain.
An industrial chemical to retard the spread of fire in paint has been developed. From past experience, 48% of sales calls will result in an order.
Find the z-score for a car driving 20 mph in this construction zone. It is an outlier (assume the data is bell shaped, so dont actually test it with pearsons index).
The goal is to get people thinking about how they can actually use correlation and regression in their real life, and where and how can they can really benefit from these techniques?
The dying rate in an industrial process is department of many factors and varies according to the following distribution.
At the end of class, our teacher said "If you're perceptive, you may have noticed that a regression analysis produced by the Excel Data Analysis ToolPak contains an ANOVA table.
The annual salary of an electrical engineer is given in terms of the years of experience by the table below. Find the equation of linear regression for the above data and obtain the expected salary for an engineer with 45 years of experience.
Here is a scatterplot of average crawling age versus average outdoor temperature six months after birth followed by a plot of the residuals versus average outdoor temperature six months after birth.
Machine X test unit cost $3000 with beta=3 and theta=500, Machine Y test unit cost $2000 with beta=3 and theta=400. If the machines oil fixtures has life of 20 hrs, which machine goes to market first?
What is the smallest number of consumers that Timex can survey to guarantee a margin of error of .05 or less at a 99% confidence level and calculate the intervals correctly
Compare and contrast internal and external validity. Describe and give examples of research questions for which external validity is a primary concern.
What is the purpose of statistical estimation? What statistics do you find most useful in regression analysis? Why?
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