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Do you use probability in your profession or real life? You most likely do. For example, chance of rain tomorrow is 27%. We hear similar probabilities in the media all the time. Similar probabilities could be found in other professions. Using a search engine, find an example of probability that is used in your chosen profession or real life. Explain the example and be sure to clearly cite the source of the information.
What does r 2 of .73 tell us? Is this a strong or weak correlation? How can you tell?
Using symbols mention null hypothesis and alternative hypothesis.
What descriptive summary measures would you use to present the data. which measure is the best to use and which is the worse and why?
Inventory manager for Itex received wheels bearing from Wheel - Rite a small producer of metal parts , Unfortunately , Wheel -rite can only produce 500 wheel bearings from wheel rite each year.
Could the interval be used to estimate the mean amount of time a 9-year-old American spends eating & drinking each day. Explain.
Problems on Sampling Variability and Standard Error and Confidence Intervals
If the basket ball player is a 74% free throw shooter, then, on average, how many free throws will he or she make in a game with eight free throw attempts?
Perform the appropriate test for a difference in mean blood glucose and report the p-value for the two-tailed test of significance, assuming that the variances are equal.
What is the probability that a respondent said neither the Big Ten nor the Pac-10 would have a team in the Rose Bowl?
Construct the following confidence intervals for your data set:
If statistically significant, do you believe the difference is large enough to be significant? If so, to whom, and explain why? Is normality assumption fulfilled? Describe.
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.
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