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The following eight observations were randomly selected from two populations that were not necessarily normally distributed.
Population 1: 38, 45, 56, 57, 61, 69, 70, 79Population 2: 26, 31, 35, 42, 51, 52, 57, 62
Using a significance level of 0.1, carry out a two-tailed Wilcoxon rank-sum test to determine whether there is a difference between the two populations.
A psychologist claims that more than 6.3% of the populations suffer from professional due to greate shyness. Categorize the Type II error in this context.
What is the opportunity loss of spending 4 hours per week on average studying for the exam when the exam turns out to be easy?
The variance of the return per share is 4 for stock 1 and 100 for stock 2. The covariance of the return between the two stocks is 5 per share. Use the total variance of the investment as investment risk.
the gre combined scores for students applying to an engineering schools graduate program are normally distributed with
One of the most commonly used statistical techniques is the comparison of two means, also known as the t-test (for this you need quantitative, or interval level data).
Twelve case of leukemia are reported in people living in a particular census tract over a five year period. Is this number of cases abnormal if only 6.7 cases would be expected based on national cance-incidence rates?
Almost 20% of the stratum was sampled compared to the second stratum where only 2% of the stratum was sampled. Will this phenomenon introduce bias into the above estimates?
A study regarding the relationship between age and the amount of pressure sales personnel feel in relation to their jobs revealed the following sample information.
For all questions, clearly explain/show your answers. For the Analysis section, justify your answers with the appropriate graphs, statistics, equations, etc.
If HIV virus is actually present, the probability that ELIA test will give a positive result from ELISA is .01. If ELISA has given a positive result, use the Bayes' theorem to find the probability that the HIV virus is actually present.
A bank official reported the results of a regression analysis designed to predict the bank's charges (y), measured in dollars per month, for services rendered to local companies.
The population standard deviation is known to be 8 minutes. create a hypothesis test to determine if the mean commute time does in fact exceed 40 minutes.
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