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Question: Consider the two following scenarios:
a. The number of new workers hired per week in your county has a high positive correlation with the average weekly temperature. Can you conclude that an increase in temperature causes an increase in the number of new hires? Discuss.
b. Suppose the stock price and the common dividends declared for a certain company have a high positive correlation. Are you safe in concluding on the basis of the correlation coefficient that an increase in the common dividends declared causes an increase in the stock price? Present other reasons than the correlation coefficient that might lead you to conclude that an increase in common dividends declared causes an increase in the stock price.
Find the critical t alpha/2 assuming the population is normally distributed, the confidence level is 95%, n=101 and sigma is unknown.
suppose that as a quality control consultant you know the population of machine operators for a corporation has a
Calculate the profit earned/loss incurred on; a high performance tire that exceeds 40,000 miles, a high performance tire that does not exceed 40,000 miles.
Explain the difference between a discrete and a continuous random variable. Give two examples of each type of random variable.
A normal population has a mean of 75 and a standard deviation of 5. You select a sample of 40. Compute the probability the sample mean is:
What is the average age for each income group, and do the average ages differ for different income groups and what effect do gender and marital status have on annual income
Use the data to determine whether there is a difference in prices at these four grocery store chains. Use α = 0.01. State any assumptions you have made to solve this problem.
Among a group of 165 students 8 are taking calculus, discrete structures, and computer science; 33 are taking calculus and computer science; 20 are taking calculus and discrete structures; 24 are taking discrete structures and computer science;
What is the maximum amount of money the company could spend to get more information about the market share?
a manufacturer has designed a process to produce pipes that are 10 feet long. the distribution of the pipe length
Find a 95% confidence interval for the population mean concentration of uric acid in this patient's blood. (Round your answer to two decimal places.)
There is a worker error is 0.3, and the probability that an accident will occur when there is no worker error is 0.2. Find the probability of a worker error if there was an accident.
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