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1. Compute the 95% confidence interval on the population mean if a sample of 1000 is taken and the sample mean is found to be 15.95 and standard deviation is 4.2.
Interpret the interval. What does it mean?
2. Test to see if a population mean is greater than the assumed (or historical) value of 16. When a sample of 1000 was taken the sample mean was computed to be 15.95 and the sample standard deviation was 4.2.
As a way of fund raising, you decide to set up a hot dog stand, after a few weeks of doing this you sell 8 hot dogs every 10 minutes.
Questions based on binomial distribution, variance of the binomial distribution, discrete random variable and continuous random variables.
If statistically significant, do you believe the difference is large enough to be significant? If so, to whom, and explain why? Is normality assumption fulfilled? Describe.
The Ohio Department of Agriculture tested 203 fuel samples across the state in 1999 for accuracy of the reported octane level. For premium grade, 14 out of 105 samples failed
Test the financial analyst's belief that the average rate charged by credit cards with monthly fees is less than 14%. Use a 5% significance level.
Does the confidence interval contain the value of 35 mm, which is believed to be the standard deviation of sitting heights of women?
Frequently, tests tha yeild abnormal results are repeated for confirmation. What is the probability that for a normal person a test will be at least 1.5 times as high as the upper limit of normal on two seperate occasions.
Perform the appropriate test for a difference in mean blood glucose and report the p-value for the two-tailed test of significance, assuming that the variances are equal.
A mortgage department of a large bank is studying its recent loans. Of particualr interest is how such factors as the value of the home (in thousands of dollars), education level of the head of the household, age of the head of the household, curr..
Team Sports, Inc. sells sporting goods to high schools and colleges via a nationally distributed catalog. Management at Team Sports estimates they will sell 2,000 Wilson Model A2000 catcher's mitts next year.
In a recent year, 11th grade New York public school students taking an English test produced test scores that were normally distributed with a mean of 81 and a standard deviation of 6. Let x be a random variable that represents a test score.
Graph one shows a number of observations that all are directly on trend line that moves from the top left of the graph to the bottom right.
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