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Q1) Determine mean of following probability distribution?
1
0.20
2
0.10
3
0.35
4
0.05
5
0.30
Q2) If gambler rolls two dice and gets sum of four, he wins $10; and if he gets sum of three, he wins $25. Cost to play game is $5. What is expectation of this game?
If a time series is stationary without a linear trend or the seasonal component, which of the following forecasting methods may be suitable.
Of the 1,4000 homemakers sampled, 420 were able to identify the brand by name. Compute the standard error of the proportion.
Should Martha use an independent-samples t-test or a related samples t-test? Explain your answer.
Compute a 95% confidence interval for the population proportion of positive drug tests. Explain why is the normality assumption not a problem despite the very small value of p.
It is impossible to get a negative value for an F -ratio.
For a population with a mean of μ = 50 and a standard deviation of σ = 10, how much error, on average, would you expect between the sample mean (M) and population mean for:
Compute the correlation among the variables. Describe perfect correlation also negative correlation. Utilize the following data to answer questions related.
Find a 95% confidence interval for the mean dielectric strength of the oil.
If level of significance ( α ) is 0.005 in two-tail test, how large is non rejection region under curve of the t distribution?
What is a point estimate for the population mean µ?
Compare the two forecasts computed in (a) and (b), using MAD. Which one should the dealer use for January of the next year?
Test the hypothesis that the annual incomes of Teachers in areas of more than 500,000 are significantly more than those in areas of less than 100,000. Use the 5% level of risk.
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