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(a) Explain clearly what is meant by a false negative rate of 5% and a false positive rate of 15%. (b) If the population were screened, what proportion would be expected to test negative for metropathy? (c) What proportion of those testing negative actually have the disease? (d) Explain clearly in words why this proportion is so surprisingly small.
Gasoline and number of gallons sold. For sample of 14 stations last Tuesday, correlation was 0.83. At 0.05 significance level, is correlation in population greater than zero?
If a random sample of 40 voters is chosen, approx. the probability that more than 20 favor this candidate. Use the normal approximation to the binomial with a correction for continuity.
Critically discuss how you can apply the concept and method of interval estimation to help you solve some of the problems in a regularly accounting department. Give a few examples.
Explain what synthetic division is. Illustrate with example. In synthetic division, what relationship does the divisor and remainder have to the original polynomial function, according to the Remainder Theorem?
Explain the general process and the steps included in conducting a hypothesis test? What is the difference between parametric and nonparametric hypothesis testing?
What is a discrete random variable and how does it differ from a continuous random variable? Give examples.
Assume that the cost for this type of hospital emergency room visit is normally distributed with a standard deviation of $92. Assume that the following questions about the cost of a hospital emergency room visit for this medical service.
Eight randomly selected plants have heights 172, 156, 154, 163, 170, 169, 170 and 164 cms. Test whether the sample standard deviation differs significantly?
fourth group was divided into small discussion groups. A high of 10 was possible. A sample of five tests was selected from each group. The test grade results were: At the 0.01 level, what is the critical value?
A particular factory can only inspect 46 mice per hour with a standard deviation of 10. At alpha=0.02 company have reason to believe that these inspectors are slower than average?
Research has shown that the people often see a correlation between two events when one does not really exist. Why do you think this happens?
where the deviations εi are assumed to be independent and Normally distributed with mean 0 and standard deviation σ. This model was fit to the data using the method of least squares. The following results were obtained from statistical software.
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