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A recent article in The washington Post Weekly Edition indicated that about 80% of the estimated $200 billion of federal housing subsides consists of tax breaks (mainly deductions for mortgage interest payment and preferential treatment for profits on home sales). Federal housing benefits average $8,268 for those with incomes between $50,000 and $200,000 and $365 for those with income of $40,000 to $50,000. Suppose the standard deviations of housing benefits in these two categories were equal to $2,750 and $120, respectively.
a. Examine the two standard deviations. What do these indicate about the range of benefits enjoyed by the two groups?
b. Repeat part a using coefficient of variation as the measure of relative variation.
Compute the median number of dependents?
The Financial Advisor exam has a mean of 500 and a standard deviation of 20. If the bank chooses to hire either Steve or Mark based solely on their exam performance, who is the bank more likely to hire? Show evidence for your answer.
The data follow. Males Females 27 25 25 29 19 18 10 23 16 20 22 15 14 19 (a) What statistical test should be used to analyze these data?
At.05 significance level, can we conclude that larger proportion of the agents think the economy is expanding this month?
When would you use hypothesis testing and when would you use confidence intervals?
Identify the sampling distribution to be used: the standard normal distribution or the Student's t distribution. Find the critical value(s).
a) Set up the null and alternative hypotheses, and perform the hypothesis test. b) Based on these results, does the diet appear to be effective? Does the diet appear to have practical significance?
The shell thicknesses of the eggs produced by a large flock of hens follow approximately a normal distribution with mean equal to 0.38 mm and standard deviation equal to 0.03 mm. Find the 95th percentile of the thickness distribution.
A random sample of seven cars was selected; the cars were driven for two weeks without the booster and two weeks with the booster.
According to a recent survey, the probability that a passengerfiles a complaint with the Department of Transportation about aparticular U.S. airline is .000014. Suppose 100,000 passengers whoflew with this particular airline are randomly contacted..
Establish an approximate design to MTBF required for a system that will result in an approximate minimum total cost over a five year period if the system is to be operated 7500 hours per year
Develop appropriate hypotheses such that rejection of H0 will support the researcher's contention.
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