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Explain with the help of a text or personal example, the use and application of Bayes' approach. Briefly, what is the history of Bayesian statistics, and how is it being used in business today? What is the difference between Bayes' and Empirical Bayes' approaches?
Formulate a suitable null and alternative hypothesis to test the students' claim that they followed their instructor's recommendation at a 5% level of significance and interpret your findings.
A polling organization plans to sample 1000 adult Americans to estimate the proportion of Americans who think crime is a serious problem in this country. (a) What is the parameter of interest to the polling organization? (b) What will be the stati..
Estimate with 90% confidence the difference in the level of satisfaction with service between the two branches.
Run an ANOVA using only groups 1 to 6 (You can hide group 7 from the analysis by data followed by select cases and then you filter out group 7 by if GROUP~= ). Also run the posthoc tests LSD and Bonferroni.
The annual salary of an electrical engineer is given in terms of the years of experience by the table below. Find the equation of linear regression for the above data and obtain the expected salary for an engineer with 45 years of experience.
Is it sensible to conclude that this set of n=16 people is not representative random sample of registered voters?
Over the past 50 years, the number of hurricanes that have been reported are as follows: 9 times there were 7 hurricanes, 14 times there were 8 hurricanes, 19 times there were 11 hurricanes, and in the remaining years there were 14 hurricanes. Wha..
According to the Internal Revenue Service, the mean tax refund for the year 2007 was $ 2,708. Assume the standard deviation is $ 650 and tha the amounts refunded follow a normal probability distribution.
Finding the probability of a pointer to land in a color among given three colors.
Find out the least-squares regression line and interpret its slope.
Obtain the simple linear regression equation, then analyze the residuals by (a) constructing a histogram
Multiple choices based on regression analysis - how much or how many but instead is assigned values to represent categories
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