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A real estate agent in the coastal area of Georgia wants to compare the variation in the selling price of homes on the oceanfront with those one to three blocks from the ocean. A sample of 21 oceanfront homes sold within the last year revealed the standard deviation of the selling prices was $45,600. A sample of 18 homes, also sold within the last year, that were one to three blocks from the ocean revealed that the standard deviation was $21,330. At the .01 significance level, can we conclude that there is more variation?
The information is reported below. Is it reasonable to conclude the percent is less now than five years ago?
Exam is given to 20 randomly chosen students and their average length of t time needed to finish exam was 54 minutes with standard deviation of 5.99 minutes. Test instructor's claim at the 0.05 level of significance.
If statistically significant, do you think the difference is large enough to be important?
Can you conclude that the information in the article is untrue? Use the 0.05 significance level. Determine the p-value and explain its meaning.
An experiment consists of making 80 telephone calls in order to sell a particular insurance policy.
State the null and alternative hypotheses you would use to test whether the year-end bonuses paid by Jones & Ryan were different from the population mean.
Interpret values of b1, b2, b3 and b4 in this estimated regression equation.
A coin is flipped e times and heads (h) or tails (t) are recorded:
At the .05 significance level, can we conclude that the guideline is still reasonable?
Explain the terms parameter and statistics. Make sure the concepts of population and sample are included in the definitions.
Perform a contingency analysis on the data to determine if there is any dependency between the number of level of education attained by the father and the size of his family.
Write the null and alternative hypotheses you would use to test the following situation.
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