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How can the binomial distribution be used in a business situation? What type of data would you use and what would you learn from this?
A researcher is interested in whether social assertiveness might be influenced by training procedures. Two groups of college sophomores are randomly selected. Group A subjects are assigned to the "training sessions" and Group B subjects do not rec..
Grindit & Floggit Ltd. make customized Widgets at a cost of $150 per unit of which 3% (on average) happen to be out of tolerance. Up to 115 Widgets can be produces in one continuous run whose set up incurs an additional cost of $10 000.
What is the difference between the R and R-squared terms? What does each tell you? How large should the R-squared term be if you want to show that the two variables are practically related?
Health and Nutrition Examination Survey, suppose that weights of men now are normally distributed with mean of m =172 pounds and standard deviation of s = 29 pounds.
Suppose Abraham Lincoln had answered a survey questionnaire in which he indicated that he had not received a grade school diploma. The researcher found that Lincoln's educational score did not correlate with the expected variables. What was wrong?
a) Under what circumstances can z be greater than one? b) Under what circumstances can a probability be greater than one?
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.
Infer that the difference in the level of satisfaction with service between the two branches.
Is this an ideal data collection method? Can the results be considered reliable? Can the gathered data be representative of the population?
Think about a density curve that consists of two line segments. The first goes from the point (0, 1) to the point (0.7, 1). The second goes from (0.7, 1) to (0.9, 2) in the xy-plane. What percent of observations fall below 0.70?
A quality control engineer wants to check if a particular product meets the specification of 90% of the entire product shipped is in perfect condition. He randomly selects a sample of 10 items of the product from a large lot ready to be shipped.
For all questions, clearly explain/show your answers. For the Analysis section, justify your answers with the appropriate graphs, statistics, equations, etc.
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