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Discuss the null hypothesis. How is it framed? What is the alternate hypothesis? How does it relate to the null hypothesis? Can you have possible outcomes not embraced by the null or alternate hypotheses?
In 2001, the US Department of Labor reported the average hourly earnings for US production workers to be $14.32 per hour. A sample of 75 production workers during 2003 showed a sample mean of $14.68 per hour.
A standard IQ test has mean of 98 and a standard deviation of 16. We want to be 99% certain that we are 8 IQ points of the true mean. Determine the sample size.
Use differential calculus to find both sales volume at which revenue is maximised and the maximum revenue available from sales of product X.
A normal distribution has a mean of 80 and a standard deviation of 14. Determine the value above which 80 percent of the values will occur.
would you favor or oppose providing a path to citizenship for illegal immigrants in the U.S if they met certain requirement including a waiting period, paying fines and back taxes, passing criminal background checks and learning English? What is the ..
Determine the following probabilities: Events A and B are mutually exclusive events defined on common sample space.
Nationwide, the average waiting time until a electric utility customer service representative answers a call is 210 seconds. The Gigantic Kilowatt Energy Company randomly sampled 30 calls and found that, on average, they were answered in 183 secon..
Soft Drinks a vending machine automatically pours soft drinks into cups. As the amount of soft drink dispensed into a cup is normally distributed
The following data show the cost of electricity during August 2010 for a random sample of 50 one-bedroom apartments in a large city:
Why is statistical significance not necessarily of practical important difference to a business decision? Provide an example and explain.
Define probability and explain the three perspectives. Provide an example of each. Describe the difference between subjective and probabilistic sampling methods. What are the advantages and disadvantages of each?
The overall model statistically adequate at a 0.05 level of significance for predicting sale price(y)? For a moving average which is not true?
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