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Under what circumstances should a nonparametric test be used? Explain. What are the strengths and weaknesses of nonparametric tests? Can the outcomes of nonparametric tests be generalized to populations?
A recent article in Business Week listed the "Best Small Companies." We are interested in the current results of the companies' sales and earnings.
The article claims that the distributions of annual returns for both common stocks and long-term government bonds are bell-shaped and approximately symmetric. Assume that these distributions are distributed as normal random variables with the mea..
Random sample of 64 services is selected. Assume the population consists of 400 services. Find out the standard error of mean.
With a 98% level of confidence a company producing street signs wants to make sure the length of their product is meeting quality standards.
To find out the prior probability, conditional probability and posterior probability. Calculate the posterior probability that the bid will be successful given a request for additional information.
The five year surival rate for Caucasians for all forms increased from 37% in 1960 to 58% now. Express this change in two ways (1) as an absolute difference in terms of percentage points and (2) as a relative difference in terms of percent.
Suppose you were to cut up the directory and pull out one listing at random to contact.
What is the value of the sample test statistic? (Test the difference p1 - p2. Do not use rounded values. Round your final answer to two decimal places.)
If one invested in Stock A, Determine standard deviation of percentage return?
When water taxi sank in the Baltimore Inner Harbor, an investigation revealed that the safe passenger load for water taxi was 3500 lbs. It was also noted that the mean weight of passenger was assumed to be 140 lbs.
Make a graph to visualize the problem and state, without doing the calculations, whether the p-value of the test
The following table is based on information taken from the Medical Practice Characteristics section of the Statistical Abstract of the United States
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