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Use only the rare event rule, and make subjective estimates to determine whether events are likely. For example, if the claim is that a coin favors heads and sample results consist of 11 heads in 20 flips, conclude that there is not sufficient evidence to support the claim that the coin favors heads (because it is easy to get 11 heads in 20 flips by chance with a fair coin).
Claim: Movie patrons have IQ scores with a standard deviation that is less than the standard deviation of 15 for the general population. A simple random sample of 40 movie patrons results in IQ scores with a standard deviation of 14.8.
velocity of a particle which moves along the s-axis is given by v=2-4t+5t then find position velocity,acceleration
Stratified Random Sampling: This method of sampling is used when the population is comprised of natural subdivision of units, The method consist in classifying the population u
Sequential Sampling Under this method, a number of sample lots are drawn one after another from a universe depending on the results of the earlier samples. Such sampling is gen
implications of multicollinearity
regression line drawn as Y=C+1075x, when x was 2, and y was 239, given that y intercept was 11. calculate the residual
Mean Absolute Deviation To avoid the problem of positive and negative deviations canceling out each other, we can use the Mean Absolute Deviation which is given by
A salesperson visits from house to house to sell her knives. The probability that she makes a sale at a random house is .3. Given that she makes a sale, the sale is worth $100 with
The proportion of American Express credit-card holders who pay their credit card bill in full each month is 23%; the other 77% make only a partial or no payment. (a) In a random
Scenario : Mrs dick's year 1s and 2s carried out a level-one science investigation to explain the changes in a particular plant over a period of time. As part of the investigation
Risk of Portfolios So far, we have seen the application of standard deviation in the context of risk in single investment. But usually most investors hold portfolios of securi
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