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Why is the population shape a concern when estimating a mean? What effect does sample size, n, have on the estimate of the mean? Is it possible to normalize the data when the population shape has a known skew? How would you demonstrate the central limit theorem to your classmates?
Why do so many of life's events share the same characteristics as the central limit theorem? Why are estimations and confidence intervals important? When might systematic sampling be biased? Explain. What roles do confidence intervals and estimation play in the selection of sample size?
What do confidence intervals represent? What is the most controllable method of increasing the precision of or narrowing the confidence interval? What percentage of times will the mean, or population proportion, not be found within the confidence interval?
As the price of oil rises, there is increased worldwide interest in alternate sources of energy. A Financial Times/Harris Poll surveyed people in six countries to assess attitudes toward a variety of alternate forms of energy
Kindly explain to me the importance of random sampling. What problems/limitations could prevent a truly random sampling and how can they be prevented
Events A and B are mutually exclusive events defined on common sample space. If P (A) 0.5 and P (A or B) = 0.70, determine P (B).
Find the critical value having an area of 0.95 to its right for an F-curve with 8 numerator degrees of freedom and 15 denominator degrees of freedom.
The firm examined 35 randomly chosen fax transmissions during the next year, yielding a sample mean of 14.44 with a standard deviation of 4.45 pages. (a) At the .01 level of significance, is the true mean greater than 10? (b) Use Excel to find the..
A random sample of 95 printers discovered that 20 of them were being used in small businesses. Find the 95% limit for the population proportion of printers that are used in small businesses.
The daily revenue totals for the next 30 days will be monitored. What is the probability that the mean daily revenue for the next 30 days will be between $7000 and $7500?
The combined production level should not exceed 1200 units per month. The demand for product II is no more than half the demand for product I.
Because of a recent incident in which a number of people became ill after eating undercooked hamburger meat, intensive interest has centered around the cooking time for hamburger patties.
A final exam in Statistics has a mean of 73 with a standard deviation of 7.73. Assume that a random sample of 24 students is selected and the mean test score of the sample is computed. What percentage of sample means are less than 70?
A Pew research study recently randomly selected two groups of people, men and women and asked them if they agree with the following statement:
While purchasing a home, location is everything. As a buyer, one should be aware of the cost of living in the area of choice, as well as expect a higher cost the closer to the center of town you get.
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