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1) Why do you use sampling? Can you provide an example?
2) How many different types of sampling are there.
3) Why do we want to assume that our sample data represents a population distribution?
4) What are some conditions under which business decisions are made using subjective probability concepts? Could you please cite two examples of subjective probability.
Determine the 95% confidence interval for the population mean, based on the sample mean.
In this research report you will be analysing a set of data of which can be found in an EXCEL file available for download in the Assessment section of the Blackboard site.
What is the probability that the sample mean will be greater than M = 510. In symbols, what is p (M>510)?
Last week Sarah had exams in Math and in Spanish. On the Math exam, the mean was u, = 30 with a = 5, and Sarah had a score of X - 45. On the Spanish exam, the mean was u, = 60 with 0 = 6 and Sarah had a score of X = 65. For which class must Sarah ..
Differentiate between descriptive statistics and inferential statistics. Provide an example for each. How does correlation analysis differ from regression analysis? What does a correlation coefficient reveal? Is correlation the same as causation?
You have to determine that your cutoff value at level a = 0.05 is 1.645 when testing whether the mean of a population is significantly different from 1.5. If you calculate a test statistic of 1.8 what is the proper conclusion?
Form a frequency distribution and a percentage distribution that have class intervals with the upper class limits $99, $119, and so on.
Polls showed the two main candidates in the 2004 presidential election were nearly tied on the day before the election. To predict the winner a newspaper would like to have a poll that has margin of error less than 1%. Roughly how large a sample w..
She figures that each box costs $ 2.59 plus $ 0.21 shipping and handling, which totals $ 2.80, then she adds $ 0.70 profit to each box and sells it for $ 3.50. Do you think this is a good pricing strategy? How would it compare to marking up by a p..
By using.02 level of significance, carry out a 5-step hypothesis testing procedure to find out if new processes considerably reduced the wait time.
Find out the expected winnings for a person who buys one ticket.
Micron Electronics makes both desktop and laptop personal computers that they sell directly to customers by phone or over the Internet.
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