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What is a p-value in testing hypothesis? How does this p-value help us to decide to/not to reject a Null hypothesis? What might happen if we do not use this p-value in particular, when we are rejecting a Null hypothesis? What are the limits of these p-values to decide if we have made a right decision on rejecting a false Null hypothesis? How do you find this p-value from the tables?
Can you envision circumstances under which these outcomes would not be normally distributed? Provide three distinct examples of the business outcomes that are not normally distributed.
The sample mean price is computed from the prices at these gas stations. What is the probability that the sample mean price falls within a nickel of the State's overall mean price? i.e between 3.09 and 3.19.
Assuming the requirements of ANOVA are satisfied, at the .05 level of significance, is there evidence of a significant difference among the mean wait times at the five checkpoints?
Normally distributed with a=2.6inches, answer the following questions. What is the percentile rank of a 20 to 29 year old female who is 60 inches tall?
Assume the population proportion is 0.17 and a simple random sample of 850 households will be selected from the population. What is the probability that the sample proportion will be within ±0.02 of the population proportion?
Suppose among 312 large city residents sampled, 65 refused to cooperate. What is the margin of error at the 95% confidence level.
The first unit required 9800 hours to manufacture. The company expects to experience an 82% unit learning curve. Estimate the cost of the 20th unit. (Round intermediate calculations to 4 decimal places)
Set up hypothesis and two-tailed decision rule for right mean using 5% level of significance. Hypothesis for a two-tailed decision is?
Based on this, what is the probability that the mean weight of the bales in a sample of n=64 bales will be between 78 and 82 pounds?
Utilize this information to construct a probability table, and then calculate each of the given probabilities:P (female and domestic car).
You may assume the sample data comes from a population that follows a normal distribution. Using a .05 level of significance test the company's claim.
Test of claim for the statement made for a given paired sample:
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