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Question 1: The financial aid office of a university asks a sample of students about their employment and earnings. The report says that "for academic year earnings, a significant difference (P=0.038) was found between the sexes, with men earning more on the average. No difference (P=0.476) was found between the earnings of black and white students." Explain both of these conclusions, for the effects of sex and of race on mean earnings, in language understandable to someone who knows no statistics.
Question 2: Your Company sells exercise clothing and equipment on the internet. To design the clothing you collect data on the physical characteristics of your different types of customers. Here are the weights for a sample of 24 male runners. Assume that these runners can be viewed as a random sample of your potential customers. The weights are expressed in kilograms.
68.7 61.8 63.2 53.1 62.3 59.7 55.4 58.9 60.9 69.2 63.7 67.8 65.6 65.5 56.0 57.8 66.0 62.9 53.6 65.0 55.8 60.4 69.3 62.1
during the past six months 73.2 of us households purchased sugar. assume that these expenditures are approximately
What is the technical definition of alpha? When might a "high level of proof" be required in business? Why does a "high level of proof" mean a small value of alpha?
What is the probability that in the next 15 minutes information about 10 or fewer potential customers arrives and what is the probability that 3 or fewer of the calls are successful
If an individual is selected, find the probability that the individual's pressure will be between 120 and 121.8 mm Hg. Why is the answer to Part a so much smaller than the answer to Part b?
The class ends the year with a mean of 68 and a stadard deviation of 9, the prof decides to bell curve the marks so that the top 10% gets an A (80%). What z score must a student achieve to recieve an A? What raw grade does this correspond to?
At the 0.05 level of significance, is there evidence that the proportion of incorrect reimbursements in the population was greater than 0.10? Discuss the underlying assumptions of the test used in (a)
Explain the importance of random sampling. What problems/limitations could prevent a truly random sampling and how can they be prevented?
An insurance agent has appointments with four prospective clients tomorrow. From past experience the agent knows that the probability of making a sale on any appointment is 1 out of 5.
Distribution with the mean of 10,000 hours. Component has already been in operation for its mean life. Determine the probability that it will fail by 15,000 hours?
Approximately 65% of all marketing personnel are extroverts, whereas about 50% of all computer programmers are introverts.
Assume a normal distribution applies and alpha = 0.05 (Use Z table), find the Critical value for the alternative hypothesis:
A board of directors at the Anchor Pointe Marina is studying the usage of boats among its members. A sample of 30 members who have bots 10 to 20 feet in length showed that they used their boats an average of 11 days last July.
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