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Suppose you are tasked to develop a section of the survey measuring "home mortgage debt" in which survey respondents are asked questions about whether they have a home mortgage and, if so, various details regarding their mortgage.
a. Construct four questions, each question reflecting one of the four corresponding levels of measurement, that a mortgagor (borrower) would answer relevant to their home mortgage.
b. Furthermore, for each question constructed, indicate the appropriate univariate statistic appropriate to the level of measurement. Explain your answer well.
To test the hypothesis that students who finish an exam first get better grades, Professor Hardtack kept track of the order in which papers were handed in.
Find the probability that a random selected score is between 150 and 157. If a sample of size n = 100 is randomly selected, find the probability that the sample mean will be between 150 and 157.
Construct a distribution to represent the population such that the survey result above may be seen as a sample from the population.
Build a scatter plot, Find the value of the linear correlation coefficient r, and find the critical value of r using α=0.05. Determine whether there is sufficient evidence to support a claim of a linear correlation between the two variables.
The weekly demand for a product follows a normal curve with an average of 1000 units and a standard deviation of 200 units. In how many weeks during a typical 52-week year would be above 800 units?
The amounts of money requested on home loan applications at a particular bank follow the normal distribution, with a mean of $80,000 and a standard deviation of $24,000. A loan application is received during the day.
Research the topic of Job Satisfaction and provide a 1 page write-up of the research highlighting where statistical analysis is being used and why it's used.
Discover whether using simple linear regression analysis is appropriate. Which two graphs could you create with your data to help you? How would you interpret them?
Flying over the western states with mountainous terrain in a small aircraft is 40% riskier than flying over similar distances in flatter portions of the nation. Find the probability of no accidents in 100,000 flight operations.
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.
How many days should be considered if a 95 percent confidence is used and the estimate is to be within one hundred dollars?
Find the probability that a random selection of 9 songs will have mean length of 186.30 seconds or less. Assume distribution of the lengths of the songs is normal.
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