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Present a hypothesis, gather and analyze data to test the hypotheses, and draw conclusions. Guidelines are: Your report must consist of a minimum of 3 typewritten, double-spaced pages not counting tables or charts. Here are some ideas for completing your project:1. Describe, briefly, your observational study or experiment and state your hypotheses. What do you think is the correlation of the variables and why.2. Select a well-designed sample of at least 30 units. (Describe the population to be studied and the sampling frame). Two variables should be measured with a potential for correlation; if you measure more than two variables, you must correlate two at a time. Pay particular attention for any lurking variables. If you are doing an experiment make sure there is a control group.3.Care must be taken in the collection of the data. Avoid sampling and non-sampling errors. If working with subjects (people, that is), be careful with the wording of your questions. If you are using secondary data, don't forget to document the sources.4.Give descriptive statistics for each single variable. At a minimum you should include the mean, median, mode, standard deviation, and five-number summary. A frequency table as well as a histogram should be included for each numerical variable.5.Correlation analysis should include a scatterplot and the line of best fit (linear regression). Give the correlation coefficient as well as .6.Draw your conclusions or inferences. Explain the strength of the association. Be careful not to conclude more than your correlation analysis allows; that is, do not make any statements not supported by your data. How confident are you about your inferences?
Let (X,Y) have uniform distribution on the four points (-1,0), (0,1), (0,-1), (1,0). Show that X and Y are uncorrelated but not independent.
Computing the probability value using normal distribution - find the normal distribution
A study of the time spent shopping in a supermar- ket for a market basket of 20 specific items showed an approximately uniform distribution between 20 minutes and 40 minutes. What is the probability that the shopping time will be:
Find the critical value having an area of 0.95 to its right for an F-curve with 8 numerator degrees of freedom and 15 denominator degrees of freedom.
Use this information to set up a 90 percent confidence interval for the proportion, p of all US workers who play hooky.
If the population standard deviation is σ = 20 is the 6 point effect large enough to be statistically significant? Use the two - tailed test with α = .05
The average stock price for companies making up the S&P 500 is $30, and the standard deviation is $8.20. Assume the stock prices are normally distributed.
Based on this, what is the probability that the mean weight of the bales in a sample of n=64 bales will be between 78 and 82 pounds?
How might variance and standard deviation be applied to a real-world business-related problem? Provide a specific application in which these measures are useful.
With a mean of 696 grams and a standard deviation of 37 grams. If you pick one fruit at random, what is the probability that it will weigh between 573 grams and 619 grams.
Distribution with a mean of 1 flaw per 5 feet of paper (0.2 flaws per foot). What is the probability that in a 1-foot roll there will be at least 2 flaws?
Use the contingency table to find the probability that a randomly selected student (1) Has a Mastercard or a VISA (2) Has neither credit card.
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