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In a random sample of 50 Americans five years ago (Group 1), the average credit card debt was $5,798. In a random sample of 50 Americans in the present day (Group 2), the average credit card debt is $6,511. Let the population standard deviation be $1,154 five years ago, and let the current population standard deviation be $1,645. Using a 0.01 level of significance, test if there is a difference in credit card debt today versus five years ago.
What is the test statistic?
What is the p-value?
As a project managerprepare a brief document that you could use as a guide for when you write reports. This can be a bullet point list but it should.
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Evaluated that there is a 95% probability of only slight losses of around $1 million. Using decision tree analysis, determined whether bank must install new power generator.
That is, what values of the tstat will give a one-sided p-value that is less than or equal to 0.05? What are the critical values for a two-tailed test at α = 0.05?
You take a sample of 22 year-old U.S. citizens, and ask how many foreign countries they have visited.
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The question to address is: "What have you learned about statistics?" In developing your responses, consider - at a minimum - and discuss the application of each of the course elements in analyzing and making decisions about data.
What is the Shape, Mean (expected value) and standard deviation of the sampling distribution of the sample proportion for samples of size 250?
What is the sample mean? What is the test statistic rounding to two decimal places? True or False: Fail to reject H0 as the test statistic does not fall within the rejection region
Calculate the correlation coefficient, coefficient of determination. Check whether there is a relation between correlation coefficient and coefficient of determination.
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