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1. Exactly what is meant by the accuracy of a point estimate?
2. A population is approximately normally distributed and the sample size is to be n = 40. What additional factor must be considered in determining whether to use the standard normal distribution in constructing the confidence interval for the population mean?
Explain how we test independent against dependent variables in a regression analysis? What's the set up? How are regression analyses often misused / misinterpreted at work or in the news? Cite an example.
For each of the three factors (smoking, alcohol, and body mass index), rearrange the data into a 3 x 2 table; the other column is for those without gallstones.
Construct a 95% confidence interval for the difference M1-M2 between the mean spending on prescription allergy relief medication (M1).
Directions: Use the real estate data you used for your Week 2 learning team assignment. Analyze the data and explain your answers. You are consulting for a large real estate firm. You have been asked to construct a model that can predict listing..
A sample of 49 observations is taken from a normal population. The sample mean is 55 and the sample standard deviation is 10. Determine the 99% confidence interval for the population mean.
Each inspector makes his or her inspection at a different time. What is the probability that at least one inspector will find a defective widget?
Proceeds ¼=$1.25 million. PV of forgone cash flows The NPV from selling the project is $1,250,000- $1,083,333 = $166,667. Therefore, selling the project is feasible.
Criminal activity with guns. Will deter criminal use of these weapons? People from entering Canada, how can we stop gun smugglers?
Suppose you are working with a data set that is normally distributed, with a mean of 300 and a standard deviation of 44. Determine the value of x from the following information.
Compute the mean, median, and mode of both sets of data. Compare the two sets of data and summarize your conclusions. Which set of data is more consistent? Justify your answer. What does your analysis suggest about the long-run viability of nurses ta..
test null hypothesis: Meu=80 against alternative hpothesis=negative = 80 (alpha =.05). What does this tell you about meu?
A sample of 100 mortgages approved during the current year showed that 31 were issued to a single-earner family or individual. The historical average is 25 percent.
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