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1. Data from a survey of customers are on an ordinal scale (1-7) regarding satisfaction with the services provided in a bank by three tellers. If we wish to determine if the degree of customer satisfaction is independent of the teller, what statistical test should be used?
2. A financial institution is contemplating the offering of three different types of savings accounts. It selects 100 customers randomly and obtains a response on which account each person would select. What statistical test would you use to determine if customers have a preference for any account?
the theorem that states that the sampling distribution of the sample mean is approximetly normal when the sample size n
What are the first three ammendments and how did they affect the united states culture?
given the returns and probabilities for the three possible states listed here calculate the covariance between the
The sample mean is less than 124 grams then the supermarket returns the entire consignment of biscuits to the producer. What is the probability that a consignment will be returned?
among a random sample of 150 employees of a particular company the mean commute distance is 25.5 miles. this mean lies
Normalized matrix for one decision criterion at Firm T is given below.
Show that if a 2D Gaussian random vector Y- = (Y1, Y2) has uncorrelated components Y1, Y2, then those components are statistically independent random quantities.
Assume the standard deviation is $160 and that the amount spent is normally distributed. What is the probability that the amount spent on a randomly selected child is more than $700?
Confidence intervals are affected by variability. If there is high variability in collected data, this translates into big standard deviation (margin of error) and therefore wider confidence interval. Are wider confidence intervals desirable? Why
A random sample of 20 shipments gives x‾ = 2.6 days and s = 0.4 day. Give a 99% confidence interval for the average transit time.
What decision should be made regarding the null hypothesis?
What does the result suggest about the effectiveness of cigarette filters?
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