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A private medical clinic wants to estimate the true mean annual income of its patients. The clinic needs to be within $100 of the true mean. The clinic estimates that the true population standard deviation is around $2,100. If the confidence level is 95%, find the required sample size in order to meet the desired accuracy.
Suppose you compute a simple linear regression on a single sample. Then you find additional data and recompute the regression on the larger sample and that the result is an increase in the regression slope.
Graph the information using a histogram and a scatter plot in Excel as well. How does seeing the information in a graphical format provide more information?
In a survey on the quality of customer service at Car Toys, customers were asked to rate the service on a scale from 1 to 10, with 10 being that a customer was completely satisfied.
Complete the following tasks: State the multiple regression equation. Interpret the meaning of the slopes in the equation.
Illustrate the regression model and predict it. The following table shows the yearly maintenance costs for several cars, as well as their age.
On randomly selected day, let X and Y, respectively, be proportions of time that the drive-in and walk-in facilities are in use. Determine the marginal density of X.
Given that alarm has just sounded, find out the probability that real emergency situation exists?
Suppose a sequence of independent trials is performed where each trial results in either success or failure. Suppose X=the number of failures before the first success, with p=probability of success on any one trial.
Can the formal hypothesis testing approach be used for nonparametric tests? How are parametric and nonparametric statistics different?
A machine for making nuts is known to create nuts with a standard deviation in size of 0.20mm. A tradesman is required to adjust the machine to make 49mm nuts.
How many ounces should they advertise on the box if they want to be sure that no more than 0.5% of the boxes are filled less than that advertised amount?
What type of sampling was this study? What is your analysis of this approach? What are the advantages and disadvantages of this approach.
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