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What are the mean, variance, and standard deviation?
How are they useful? What is a normal distribution?
How is it useful?
A population is normally distributed with the mean of 100 and a standard deviation of Would it be unusual for mean of sample of 3 to be 115 or more? Why or why not?
An elementary school principal would like to know how many hours the students spend watching TV each day. A sample of n = 25 children is selected, and a survey is sent to each child's parents.
Find the average cost of a loaf of bread in your area and compute the cost per day for one year. (Remember that average is the mean, median, mode, and midrange, but choose the best for the data.) 1. What measures of central tendency did you use?
At 1 excavation site 8641 pot shards have been found that have not presently been cleaned also identified. Define the probability.
If new inspector measures 101 stampings with variance of 0.13 square inch, test at 0.05 level of significance whether inspector is making satisfactory measurements. Suppose normality.
Construct the 95 percent confidence interval for the difference between the two population means.
Probability of two mutually exclusive events intersecting Can be any value between 0 to 1, Must always be equal to 1.
Why is it significant to be familiar with frequency distributions in the business world? Provide examples by using a distribution chart from a set of data.
Make a List of type of possible errors. Assume that you were interested in knowing the mean score for a certain quiz in a statistics class.
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.
A regional director responsible for business development in the state of pennsylvania is cocerned about the number of small business failures. If the mean of small businsses failures per month is 10,
Compute a 95% confidence interval for the population proportion of positive drug tests. Explain why is the normality assumption not a problem despite the very small value of p.
Run a regression of Y on X in Excel and turn in the output with a note explaining what the coefficients {correlation coefficient (multiple R), standard error, t-statistic and F-statistic} mean.
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