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A random sample of eight adults aged 30 years were asked how much they spent on medical costs in the year 2011. The following data were measured.
300 140 5600 520 470 700 640 1200
Compute the sample standard deviation.
The explanatory variable which is a measure of neighborhood socio-economic status variable RFM. Response variable is percent (%) of bicycle riders that wears a helmet.
The error between the sample mean and the population mean for a sample of n = 16 is 5 points and the error between a sample mean and population mean for a sample of n = 100 is 2 points. Explain the difference in the standard error for the two samp..
The regression line yˆ2 = 3 + 2x has been fitted to the data points (4,8), (2,5), and (1,2). The residual sum of squares will be:
Does the data prove a significant difference in mean times?
What is the equation for least squares line? Calculate the coefficient of determination.
A work-study engineer times a certain operation, and discovers that the average time it takes is 10 minutes, but on 15% of occasions it takes more than 13 minutes.
What is the probability that a randomly selected tire will have a life of at least 30,000 miles?
What is 95% confidence interval estimate for average number of years served by all Supreme Court justices?
At times we can generate a regression equation to explain outcomes. For example, an employee's salary can often be explained by their pay grade, appraisal rating, education level, etc.
Assume then money spent is uniformly distributed between these amounts. Determine the mean amount spent on insurance?
Compute the range and interquartile range
It seems that simulation could handle any situation or study. But is that always true? Discuss instances in which a simulation would be important and useful, and then a situation in which a simulation would not be appropriate.
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