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When we move from the basic normal distribution to the sampling distribution of the mean we substitute the standard error of the mean for the standard deviation when we make the conversion to the standardized normal distribution. Why do we use the standard error of the mean in this case? And how does using the standard error affect our confidence intervals calculations? (Hint - these two issues are related).
Determine equation in point-intercept form for line that goes through points (8,-1) and (4,3).
Richard is one of test takers. Find out the number of questions he can expect to get right on test by random guessing.
Professor Cox needs a volunteer amongst 30 students in his statistical applications course. The average age of his students is 25 years, with the standard deviation of 3 years.
Based on the expected value of the lottery ticket, would you pay $1 for a ticket? Round the answer to 3 decimal places. Omit the "tiny_mce_markerquot; sign in your response.)
At times we can generate a regression equation to explain outcomes. For example, an employee's salary can often be explained by their pay grade, appraisal rating, education level, etc.
Determine the probability that the sample mean is 20 or higher? What is the probability that the sample mean falls within 2 points of the population mean?
Conditional and compound probabilities.The table below gives the distribution of blood types by gender in a group of 1000 individuals.
Where should the warranty limits be set so that only 10 percent of the HDTVs need repairs at the manufacturer's expense?
Conduct the following test using 95% level of confidence.
Explain the value of test statistic using t distribution for the given value. Illustrate value of the t test statistic if you are testing a hypothesis.
The buyer-believes that the differences are normally distributed and will use this sample to perform an appropriate test at a level of significance of 0.01.
Taking care to control for weather conditions and other variables as much as possible. Define the null hypothesis.
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