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Confidence Intervals" (Note: Please respond to one [1] of the following two [2] bulleted items)•The vast majority of the world uses a 95% confidence in building confidence intervals. Give your opinion on why 95% confidence is so commonplace. Justify your response.•Construct a hypothetical 95% confidence interval for a hypothetical case of your choosing. Use your own unique choice of mean, standard deviation, and sample size to calculate the confidence interval. Select one (1) option provided below and analyze what will happen to your confidence interval based on the option you selected: ?The confidence changes to 90%.?The confidence changes to 99%.?The sample size is cut in half.?The sample size is doubled.?The sample size is tripled.
Assume that the measurements came from a normal distribution. The variability of the manufacturing process is unknown means the same as the standard deviation is unknown.
Find the probability that the amount of total claims over a period of 100 days is at least $150,000. (Use the fact that the sum of independent normally distributed random variables is normally distributed, with mean equal to the sum of the individ..
Standard deviation of 7. At 0.01 significance level, is there more variation in first population?
Now make a scatter plot of data from 1982 to 1998 (again, use years since 1800). Determine a linear, power, or exponential model that explains the crude oil production during this time period.
Using the method outlined in Brase and Brase, do the data indicate that the age group over 50 has a lower rate of hay fever?
Perform the necessary calculations to determine which of the two mutual funds is better. Which one should you choose to maximize the expected value?
Find out the probability that temperature of oven will range from 460 to 470 F?
If 485 out of the next 500 orders are processed on the same day, would this prove that they are exceeding their goal, using α = .025?
The second plane's speed is also normally distributed with mean and standard deviation 500and 10,respectively. What is the probability that plane 2 did not catch up to plane one after two hours of flight?
At the 0.01 level of significance, can the student group conclude that there is a difference in average textbook prices for new textbooks sold on campus and over the Internet?
Can the formal hypothesis testing approach be used for non parametric tests? How are parametric and nonparametric statistics different?
Suppose x follows a distribution with density function: f(x)=C*abs(x-2), 0 =
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