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A real estate agent thinks that average closing cost of buying the new home is $6500 over purchase price. She chooses 40 new home sales at random and determine that average closing costs are $6600. Standard deviation of population is $120. Test her belief at µ = 0.05.
The mean of a normal probability distribution is 60; the standard deviation is 5.
Make a graph to visualize the problem and state, without doing the calculations, whether the p-value of the test
What does the binomial distribution chart look like? Can I use Excel to come up with this chart?
Probability using Z-score.Find the probabilities that a random variable Z having a standard normal distribution will take on a value.
The chamber of commerce of a Florida Gulf Coast community advertises that area residential property is available at a mean cost of $125,000 or less per lot.
The expense ratio of a mutual fund measures the percentage of the fund's assets used to pay for annual administrative overhead. Funds with higher ratios spend more of the fund's return to operate the fund.
because only two of the seven regression coefficients are statistically significant. Yet in some initial trials the expanded model is giving more precise sales predictions than the smaller model. The reasons for this anomaly are now being investig..
First, write down three social problems (e.g., drug abuse, gang membership, bullying, domestic violence, child abuse, etc) that we might attempt to predict using logistical regression.
Suppose that verbal scores on SAT exam have a normal distribution with a population mean 500 points and population standard deviation of 100.
An LU professor is interested in whether there is a difference between undergraduate students and graduate students in the amount of time spent praying each day.
Compute the skewness for your data set using Pearson's
What is the probability of getting someone who is in the 23-30 age brackets or whom smokes?
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