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Question: In order to cut costs a wine producer is considering using duo or 1 + 1 corks in place of full natural wood corks, but is concerned that it could affect buyers's perception of the quality of the wine. The wine producer shipped eight pairs of bottles of its best young wines to eight wine experts. Each pair includes one bottle with a natural wood cork and one with a duo cork. The experts are asked to rate the wines on a one to ten scale, higher numbers corresponding to higher quality. The results are:
a. Give a point estimate for the difference between the mean ratings of the wine when bottled are sealed with different kinds of corks.
b. Construct the 90% confidence interval based on these data for the difference.
c. Test, at the 10% level of significance, the hypothesis that on the average duo corks decrease the rating of the wine.
How does the least-squares line "know" that it is predicting Y from X instead of the other way around?
Risk taking is an important part of investing. In order to make suitable investment decisions on behalf of their customers, portfolio managers give a questionnaire to new customers to measure their desire to take financial risks.
Increasing confidence level will increase width of confidence interval. This is because the fact that increasing confidence interval will increase value of z(α/2), which will increase the size of standard error (z*s/√n).
Medical tests, such as those for detecting HIV, sometimes concern such sensitive information that people do not want to give their names when they take.
the gre combined scores for students applying to an engineering schools graduate program are normally distributed with
a. Find the probability that a valve is ground only once. b. Given that a valve is not reground, what is the probability that it is scrapped? c. Find the probability that a valve is scrapped.
economics is about allocation of limited resources to their best use. similar to the rest of economy healthcare sector
Considering the effect that colonialism has had on the world today, how has and/or does Colonialism continue to affect the world? Choose one country or area that we have studied and discuss the continuing effects of colonialism in that region.
It is estimated that .44 percent of the callers to the customer service department of Dell Inc. Will receive a busy signal. What is the probability that of today's 1200 callers at least 5 will receive a busy signal? Use the poisson approximation t..
How many days should be considered if a 95 percent confidence is used and the estimate is to be within one hundred dollars?
Carry out a significance test for the hypothesis that the two tests have the same population mean. Give the P-value and state your conclusions.
Search the internet for examples of how categorical data is used in the workplace. As a hint, type "categorical data" followed by a topic of interest to you into the search engine.
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