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QUESTION 1: What is the importance of a 5% significance level? Why would you choose 5% as opposed to 10% or 1%? What effect does the level of significance have on a Type II error? Please give examples of business situations that would call for different levels of significance.
QUESTION 2: What is the difference between a left-tailed, two-tailed, and right-tailed test. When would you choose a one-tailed test? How can you determine the direction of the test by looking at a pair of hypotheses? How can you tell which direction (or no direction) to make the hypothesis by looking at the problem statement (research question)?
These do not have to be in essay format, it is a simple minimum of 150 word response.
Calculate the correlation coefficient and prediction equation.
given a 90 confidence interval for mu1-mu2 as -55. what can be concluded?a nothingb mu1mu2c mu1 -5 or 5 and mu2 10 or
An artifact is discovered at a certain site. If it has 46% of the carbon-14 it originally contained, what is the approximate age of the artifact to the nearest year?
Identify at least three variables for which you could calculate a logistic regression. Describe the variables and their scale of measurement.
What happens to the confidence interval when we go from a 95% confidence level to a 99% confidence level? Is this desirable? When would we want to use a 99% confidence interval?
Calculate the suitable mean response time from both proposed locations and find out which proposed site must be selected for the new emergency facility.
Pilot sample of n = 50 tires illustrated sample standard deviation equal to 4,000 miles. Based on this information, required sample size is?
the number of telephone calls coming into a businesss switchboard averages 4 calls per minute.let x be the number of
In a survey of 2480 golfers, 15% said they were left-handed. Construct to the 95% confidence interval for the population proportion p. Construct a 95% confidence interval for the population proportion p of left-handed golfers.
Construct a 96% confidence interval for the mean weight of all firefighters six months after the exercise rooms were installed.
For each sample, carry out a Z test using the five steps hypothesis testing with a two-tailed test at the .05 significance level, and make a drawing of the distributions involved.
suppose that x1 gammaa 2 b 3 x2 gamma 3 3 and x3 gamma 1 3 are independent. here b denotes the scale parameter and a
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