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Explain the concepts involved in hypothesis testing, including what hypothesis testing is, and an explanation of the four types of scales used to measure data.
Discuss where and how common tests of differences, such as t-tests, ANOVAs and Chi-squares, are used to test hypotheses.
Include an example of where and how common tests of relationships, such as correlation and regression, can be used.
Find the difference between the actual y value and the predicted y value for each individual, square the differences and add the squared values to obtain ss residual.
What is the difference between an independent and a dependent variable? Does a regression model imply causation? Why or why not?
What happens to the expected return and standard deviation of returns of the portfolio in Part a if the following conditions exist?
In a random sample of 10 adults from a nearby county, the mean waste generated per person per day was 4.35 pounds and the standard deviation was 1.88 pounds.
Test to see if the mean cell phone bill has changed since 2004. Use a .05 level of significance for the test.
Decision making under risk is the same as decision making under uncertainty because in both the probabilities are unknown.
Explain clearly, in your own words, what is a Type I error in this context.
Metal stamping machine is producing 10 defective parts per hour. Determine the probability that three or fewer defective parts will be output in a randomly chosen hour, by using the Poisson distribution?
What is the probability that the cereal would be high calorie? In other words, what is P (high calorie)?
Based on the scatter diagram, does there appear to be any relationship between the number of assemblers and production? Explain.
At the .10 level of significance, is the coin biased toward heads? Show your decision rule and calculations.
For sample of size 100, what is the mean and standard deviation of the sample mean.
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