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Determine the margin of error in estimating the population mean. Sample of 68 college students yields a mean annual income of $3248. Assuming that the standard deviation = $885, find the margin of error in estimating mean at the 99% level or confidence.
The instructor wanted to "pass" anyone who scored above 69. What proportion of exams will have passing scores?
What is the 99% confidence interval?
The maximum allowable payback and discounted payback statistic for the project are 2 and 2.5 years, respectively. Use the NPV decision rule to evaluate this project; should it be accepted or rejected?
Where does the p-value come from for the spatial scan statistic used in SaTScan? How Monte Carlo simulation is used to derive a p-value for a cluster ?
Assume the population standard deviation (s) is 0.5 and the sample size (n) is 100. Calculate the values for alpha, a type I error and beta, a type II error. (To calculate Beta, consider a mean that is 1 standard error away from the lower end valu..
Define the standard error of the mean. What happens to the standard error as the sample size increases? Explain
Assume that the average person in America weighs 150 pounds (μ). You want to determine whether colleges students weigh less than the average America, Following are the weights collected on a sample of colleges students: 120, 105, 166, 170, 145, 14..
what is the probability that a randomly selected value from the distribution will be greater than 2.1 standard deviations avoe the mean?
On a test whose distribution is approximately normal with a mean of 50 and a standard deviation of 10, the results for three students were reported as follows:
The mean for a sample of n=16 scores has an expected value of 50. This sample was selected from a population with a mean of µ=50.
what is the appropriate procedure to test for significant difference in means between two groups? Implement the procedure using the critical-value method and what is the p-value?
Reggie Miller of the Indiana Pacers is the National Basketball Association's best career free throw shooter, making 89% of his shots. Assume that late in a basketball game, Reggie Miller is fouled and is awarded two shots.
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