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Of 146 adults selected randomly from one town, 31 of them smoke. Construct a 99% confidence interval for the true percentage of all adults in the town that smoke.
Does lovastatin (a cholesterol-lowing drug) reduce the risk of heart attack? In a Texas study, researchers gave lovastatin to 2,325 people and an inactive substitute to 2,081 people (average age 58). After 5 years, 57 of the lovastatin group had s..
What is the appropriate procedure to test a significant difference in means between the two groups? Use the critical -value method.
Assume 1.5% of antennas on new Nokia cell phones are imperfect. For random sample of 200 antennas, determine the probability that: None of the antennas is defective.
Problem based on decision tree - Evaluate the strategy that maximizes the manufacturer's expected net earnings.
Post-hoc fallacy is that condition where regression shows a high degree of correlation (R square is high), but there is no real cause-effect relationship between the independent and dependent variables.
An auditor for Health Maintenance Services of Georgia reports 40% of policyholders 55 years or older submit a claim during the year. Fifteen policyholders are randomly selected for company records.
You calculate the difference in income as (after incentive plan - before incentive plan). You want to test whether income after the incentive plan is different from income before the incentive plan. What are the hypotheses for this test?
How does hypothesis testing contribute to the scientific knowledge base? What is one example of a null hypothesis statement?
Do time series models rely heavily on cause and effect relationships between variables in order to ensure accurate predictions?
What is the difference between statistical significance and practical significance? Why is statistical significance not necessarily of practical important difference to a business decision?
In a 1993 survey of 560 college students, 171 said that they used illegal drugs during the previous year. In a recent survey of 720 college students, 263 said that they used illegal drugs during previous year.
A laboratory scale is known to have a standard deviation of = 0.001 gram in repeated weighings. Scale readings in repeated weighings are normally distributed, with mean equal to the true weight of the specimen.
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