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Q1) Piggy Bank would like to study required sample size required to be able to evaluate the mean dollars that each card holder will spend each month. It would like to be in plus or minus $10 of true mean with a 98% confidence level. Standard deviation is thought to be= $500. How many card holders must be sampled? After you have determined how many card holders must be sampled, Piggybank comes back and says that it will cost= $5 per sample and they were only planning on spending= $10,000 on sample. In memo to Piggybank product development team point out how many card holders must be sampled to meet original requirements of sample. Then describe trade-offs which will happen when you lower sample to $10,000 to meet their budget.
Using the Census data, the OH Registry of Motor Vehicles reveal the subsequent about the Autos owned by the 10 families residing in Smallville.
How many subjects would you approximately need to reduce the length of the 95% confidence interval to 2 units?
Sketch density curves that might explain distributions with fallowing shapes: symmetric, but with two peaks( i.e., two strong clusters of observations)
Which of the following measures only the strength of a relationship?
The results of the simple linear regression are provided below.
Construct a 99% confidence interval for the population mean tread wear for this type of tire.
Thirty-two samples of 8 items each were collected from a process. The average sample mean is 12 and the average range is 0.10. The upper and lower control limits, respectively, for an:
The null hypothesis is that the distribution of mother's educational level is the same for both treatment groups. The value of the chi-square statistic is 7.422. Evaluate the P-value
If statistically significant, do you think the difference is large enough to be important?
Test whether there is a statistical difference between the two proportions at the 5% significance level.
For a binomial probability experiment, with n=150 and p=.2, it is appropriate to use the normal approximation to the binomial distribution.
Findout the percentage of trainees earns less than $900 a month utilizing normal distribution.What percentage of trainees earns less than $900 a month?
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