User Account

All Pages

What is the probability that the indicator would be correct

Assignment Help Basic Statistics
Reference no: EM131689014

Question: Spurious correlation refers to the apparent relationship between variables that either have no true relationship or are related to other variables that have not been measured. One widely publicized stock market indicator in the United States that is an example of spurious correlation is the relationship between the winner of the National Football League Super Bowl and the performance of the Dow Jones Industrial Average in that year. The indicator states that when a team representing the National Football Conference wins the Super Bowl, the Dow Jones Industrial Average will increase in that year. When a team representing the American Football Conference wins the Super Bowl, the Dow Jones Industrial Average will decline in that year. Since the first Super Bowl was held in 1967 through 2005, the indicator has been correct 32 out of 39 times. Assuming that this indicator is a random event with no predictive value, you would expect that the indicator would be correct 50% of the time.

a. What is the probability that the indicator would be correct 32 or more times in 39 years?

b. What does this tell you about the usefulness of this indicator?

Reference no: EM131689014

Questions Cloud

Do you have a binding contract with the candidate : You are the owner of a start up company seeking to hire a chief financial officer. Do you have a binding contract with the candidate? Why or why not?
How an efficient supply chain system can increase : Explain how an efficient supply chain system can increase a retailer's level of product availability and decrease its inventory investment.
Explain the key attributes : Provide an example of a specific piece of spyware. Explain the key attributes of it using the following template.
Corporation structure and culture be internal strengths : n what ways can a corporation structure and culture be internal strengths or weaknesses?
What is the probability that the indicator would be correct : Spurious correlation refers to the apparent relationship between variables that either have no true relationship or are related to other variables.
How the organization applies corporate social responsibility : Select a business decision within the organization. Identify how the organization applies corporate social responsibility to the business.
Review problem of the golf balls : Worldwide golf ball sales total more than $1 billion annually. One reason for such a large number of golf ball purchases is that golfers lose.
We are offering cashmere wool coats for sale : We are offering Cashmere Wool Coats for Sale, one day only, $50 each as an appreciation to our loyal customers.
Computing environment consisting of a mix : Assume you have a computing environment consisting of a mix of machines running three (3) Windows platforms with the following operating systems

Reviews

Write a Review

Basic Statistics Questions & Answers

  Statistics-probability assignment

MATH1550H: Assignment:  Question:  A word is selected at random from the following poem of Persian poet and mathematician Omar Khayyam (1048-1131), translated by English poet Edward Fitzgerald (1808-1883). Find the expected value of the length of th..

  What is the least number

MATH1550H: Assignment:  Question:     what is the least number of applicants that should be interviewed so as to have at least 50% chance of finding one such secretary?

  Determine the value of k

MATH1550H: Assignment:  Question:     Experience shows that X, the number of customers entering a post office during any period of time t, is a random variable the probability mass function of which is of the form

  What is the probability

MATH1550H: Assignment:Questions: (Genetics) What is the probability that at most two of the offspring are aa?

  Binomial distributions

MATH1550H: Assignment:  Questions:  Let’s assume the department of Mathematics of Trent University has 11 faculty members. For i = 0; 1; 2; 3; find pi, the probability that i of them were born on Canada Day using the binomial distributions.

  Caselet on mcdonald’s vs. burger king - waiting time

Caselet on McDonald’s vs. Burger King - Waiting time

  Generate descriptive statistics

Generate descriptive statistics. Create a stem-and-leaf plot of the data and box plot of the data.

  Sampling variability and standard error

Problems on Sampling Variability and Standard Error and Confidence Intervals

  Estimate the population mean

Estimate the population mean

  Conduct a marketing experiment

Conduct a marketing experiment in which students are to taste one of two different brands of soft drink

  Find out the probability

Find out the probability

  Linear programming models

LINEAR PROGRAMMING MODELS

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd