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Decide whether the normal sampling distribution can be used. If it can be used, test the claim about the population proportion p at the given level of significance α using the given sample statistics. Claim: p < 0.12; α = 0.01. Sample statistics: ∧ = 0.10, n = 20.
Assume a one-tailed t -test is being applied to determine if population mean is less than $212. Level of significance chosen is 0.01 and 26 accounts are sampled. Determine the critical value?
Criterion of realism or Hurwitz. Assume that the payoff from an investment depends on market conditions. Illustrate what is the criterion of realism value.
Which statement about re-expressing data is not true? I. Unimodal distributions that are skewed to the right will be made more symmetric by taking the square root of the variable.
Suppose that you wish to perform a nonparametric test for a difference among the medians of three or more independent populations. Which of these tests would be appropriate?
A chance sample of 50 families revealed an average or median of $112,000 and a standard deviation of $40,000. What is the standard error of the average or median?
In a pilot study, five kids are given several problems of each type to practice (and then tested on three problems), in one of the three Sequences: D-R-T, T-D-R, OR R-T-D.
Consider the following data values of variables x and y. The equation of the least-squares regression line for this data is
Assume 41% of all American adults have some college education. American adult is randomly selected. Determine the probability that adult owns stock or has some college education?
What is a quantitative interpretation of the slope here? (Use appropriate units in your explanation.) Although some might be concerned about the intercept being negative (you can't, after all, have a negative power use), that is not a problem. Expl..
Analyze the process of statistical quality control and determine which part of the process would be most difficult and what steps could be taken to mitigate the anticipated difficulty.
What is the probability that of today's 1,300 callers at least 5 received a busy signal? Use the poisson approximation to the binomial.
Using standard methods for linear statistical prediction, find the percent increase in sales revenue that would be expected if the price were lowered by 15%. Find the usual measure of the strength of association between price reduction and sales re..
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