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Benford's Law claims that numbers chosen from very large data files tend to have "1" as the first nonzero digit disproportionately often. In fact, research has shown that if you randomly draw a number from a very large data file, the probability of getting a number with "1" as the leading digit is about 0.301. Suppose you are an auditor for a very large corporation. The revenue report involves millions of numbers in a large computer file. Let us say you took a random sample of n = 463 numerical entries from the file and r = 122 of the entries had a first nonzero digit of 1. Let p represent the population proportion of all numbers in the corporate file that have a first nonzero digit of 1. Test the claim that p is less than 0.301 by using What is the P-value of the test statistic?
Survey of 16 tax returns reports families with incomes between $75,000 and 100,000 have on average $8,562 in Standard Deductions with the standard deviation of $1,800.
Determine the critical value, z0, to test the claim about the population proportion p
Using standard methods for linear statistical prediction, find the percent increase in sales revenue that would be expected if the price were lowered by 15%. Find the usual measure of the strength of association between price reduction and sales re..
In selecting a sample from a population for the purpose of making and inference from the sample about the population, it is important
Construct the 90% confidence interval for the true population proportion of all voters in the state who favor approval.
Stating assumptions on which your arguments and conclusions are based, sum up the statistical evidence regarding effectiveness of this diet.
Data collected by a child development scientist produced a 95% confidence interval for the mean age, μ (in weeks) at which babies began to craw as [21.4, 31.6]
Using the 0.95 degree of confidence, what is the interval estimate for the population proportion (to the nearest tenth of a percent)?
What will be measurable data in this case and (assume a survey will be conducted and or data can be obtain). What will be at least two independent variables and one dependent variable. (and assuming they are consistent with the collected data)
An electric utility wishes to examine the relationship between temperature and electricity use in its service region during the summer months.
Office Visits what is the age distribution of patients who make office visits to a doctor or nurse?
Differentiate between correlation and causation. What are the practical applications? How would it be used in the workplace?
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