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U.S. News & World Report publishes the average starting salary and the average GMAT score for MBA graduates at each of the top 80 ranked schools in the country. The data fit the following regression line: Y = 288X - 111,408 where X is the average GMAT score for students at a school and Y is the average starting salary for graduates from that same school. What is the estimated average starting salary for a school with an average GMAT of 600 points?
a. $58,390
b. $62,408
c. $61,392
d. $71,408
10. Consider the following two variables: X = Length of hospital stay by any given patient (days) Y = Cost of the patient's hospital stay (dollars) What do you expect about the relationship between these variables?
a. Strong positive correlation, but no causation between them.
b. Strong positive correlation, and we expect longer stays to cost more for patients with similar illnesses.
c. Strong positive correlation, and we expect higher costs to cause longer stays for patients with similar illnesses.
d. None of the above.
Suppose the population standard deviation is a=25. (The a is actually the funny looking 0 with the line that goes from the top right up at an angle) Compute the standard error of the mean
Provided an example of a research problem at any organization that would benefit from the employ of either descriptive statistics or probability distribution statistics.
At the .05 level, you are testing whether there is a significant difference in the proportions of college students and similar aged non college students having accidents during the two year period. Is this a test of sample means or sample proporti..
Find a 90% confidence interval for the population mean salary of such personnel. What is the margin of error.
At a certain university, the average cost of books per student was 400.00 last semester. In a sample of 40 students this semsester, their average cost was 340.00 with a standard deviation of 80.00.
The manager of a department store wants to determine what proportion of people who enter the store use the store's credit cards for their purchases.
Find a 95% confidence interval for the mean dielectric strength of the oil.
Given that this sample is extremely large, can the responses be considered to be representative of the population of the United States? Explain.
We desire to test at 0.05 level of significance whether modification increases the life of battery. What is our decision rule? Reject null hypothesis if calculated t is less than 1.96.
What contingency table test is used to see if there is a difference in the frequency distribution for two different groups?
What control chart(s) would you use for this data and what are the final control limits?
The average number of days absent per student per year at West Valley School is 17 days with a standard deviation of 4 days. How many standard deviations from the mean is 6 absent days?
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