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1- How do dependent and independent samples differ? Give two examples of dependent samples as they may occur in a business or industry that is familiar to you. Some people use the term paired samples instead of dependent samples.
2 - What is the importance of using STOH in solving problems related to business and operations management? Provide specific examples (preferably from your experience area. Clearly state the null and alternative hypothesis.
3 - Why is the ANOVA (one factor and two factors) important? How can it be used in your profession? Provide examples. Indicate the factors (treatments) and state the hypotheses tested.
4 -What are examples (at least 2) where non-parametric tests are used to analyze business or operations management related problems in general and why use non-parametric tests instead of parametric tests? Provide examples and explain what you are looking for when you conduct these tests. Examples
5. Conduct one- and two-sample tests of hypotheses.
Plot this 20 maxima again on normal probability paper derive the theoretical distribution function for this 20 maxima and draw the CDF in the same plot.
We wish to construct a 90% confidence interval on the mean of a population known to be normally distributed based on a sample of 20 observations having a sample mean of 8 and a sample standard deviation of 2. What is the standard error?
Heights of People - The average height of a certain age group of people is 53 inches. The standard deviation is 4 inches. If the variable is normally distributed, find the probability that a selected individual's height will be:
What is the probability that a cereal would either high calorie or high fiber? In other words, what is P(high calorie or high fiber)?
Given an infinite population with a mean of 75 and a standard deviation of 12, the probability that the mean of a sample of 36 observations, taken at random from this population
A manufacturer of microwaves gathers information on microwave sales from a random sample of 50 stores in a large retail chain. In the sample, the mean number of microwaves sold per store last week was 19, with standard deviation 2.
Which of these following statements provides the best guidance for the model building?
A machine for making nuts is known to create nuts with a standard deviation in size of 0.20mm. A tradesman is required to adjust the machine to make 49mm nuts.
Using data table given below, find out the range and median?
An experiment consists of making 80 telephone calls in order to sell a particular insurance policy.
The sample mean is 2.59 and the sample standard deviation is .66. Conduct the following test using 95% level of confidence.
A company uses triple time estimates to determine expected completion time for all of their projects. If they determined the expected time to complete a project is 25 weeks with a variance of of 9 weeks
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