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1. More on statistical versus practical signi?cance. A study with 14 subjects reported a result that failed to achieve statistical signi?cance at the 5% level. The P-value was 0.052. Write a short summary of how you would interpret these ?ndings.
2. Vitamin C and colds. In a study to investigate whether vitamin C will prevent colds, 400 subjects are assigned at random to one of two groups. The experimental group takes a vitamin C tablet daily, while the control group takes a placebo. At the end of the experiment, the researchers calculate the difference between the percents of subjects in the two groups who were free of colds. This difference is statistically signi?cant (P = 0.03) in favor of the vitamin C group. Can we conclude that vitamin C has a strong effect in preventing colds? Explain your answer.
Under what circumstances should a nonparametric test be used? Explain. What are the strengths and weaknesses of nonparametric tests?
The following data are based on information from Domestic affairs. Let X be the average number of employees in a group helh insurance plan, and let Y be the average administrative cost as a percentage of claims.
For the most recent year available the mean annual cost to attend a private university in the US was $26,889. Assume the distribution of annual costs follows a normal probability distribution and the standard deviation is $4,500. 95% of all studen..
you have received a year end bonus of 5000. you decide to invest the money in the stock market and have narrowed your
Find the equilibrium quantity and equilibrium price for the commodity whose supply and demand functions are given
70 people received a higher score on the second test, 13 a lower score, and 1 received the same score. At the 0.05 significance level, test the claim that the music has no effect on memorization skills.
How many cans of paint should the sample contain if the researcher wants to be 98% certain of being within one percentage point of the true proportion of this chemical?
assume that womens heights are normally distributed with a mean of 63.4 in and a standard deviation of 1.7 in.a. if 1
in 2011 the price of a business math text rose to 98. this is 11 more than the 2010 price. what was the old selling
Suppose that bank has made a large number of loans of a certain type. The one year probability of default each loan 1.2%. The bank uses a Gaussian copula for time to default.
According to Fortune, solar power now accounts for only 1% of total energy produced.15 If this number was obtained based on a random sample of 8,000 electricity users, give a 95% con?dence interval for the proportion of users of solar energy.
Provide a discussion that supports the assumption that the variance of savings increases with family income.
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