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The issue of how much should be spent to solve particular US social problems is a complex matter, and people have diverse and conflicting ideas on these issues. Race and social class have an impact on how people perceive government spending. In the 2006 GSS survey, people were asked whether we were spending too much, too little, or the right amount of money to address welfare.
After testing whether social class and welfare spending were related, you derive a chi-square (obtained) of 17.64, with 6 degrees of freedom. If alpha is set at 0.01, what is your conclusion and interpretation?
Suppose that patrons of a restaurant were asked whether they preferred beer or whether they preferred wine. 70% said that they preferred beer. 60% of the patrons were male. 80% of the males preferred beer.
What is the difference between a point estimate and an interval estimate? How would you calculate a confidence interval with a z test?
Using a significance level of 0.05 I want to conduct 3 hypothesis tests using the data below. I need to state my alternative and null hypotheses and test a claim about a proportion.
Plot CEO salaries against the net profit of their respective companies, do you expect to find a linear correlation between the two?
if a gambler rolls a dice twice to get a sum of 10, he wins $10. and if he gets a sum of three, he wins $20. The cost to play the game is $5. What is the expectation of the game?
Formulate the null and alternative hypotheses for a hypothesis test. Identify the population and describe how to select a random sample for a hypothesis test. State in clear terms the conclusion that should be given if the null hypothesis is rejec..
Your objective is to maximize the expected utility of your final fortune (after 4 bets). If you are a log-utility investor, determine the optimal policy and find the maximal expected utility.
Prepare an analysis of your selected article. Start by identifying and summarizing the hypothesis described in the article. Then explain whether the hypothesis was rejected or accepted,
Can we conclude that car size is dependent on marital status? YES or NO (circle one)
A certain airplane has two independent alternators to provide electrical power.
Illustrate what amount of sales would be required to be a super savings club member. Elucidate amount of sales would be required to be a gold club status.
A foreman for a firm admits that on 10% of his shifts he forgets to shut off the machine. This causes the machine to overheat and the probability that a defective mold will be produced during the early morning run increases from 2% to 20%.
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