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Critically discuss the main differences between descriptive and inferential statistics? Provide an example of either type of statistics either from a recent study you heard about or a made up study you'd be interested in learning about.
Suppose you roll a standard die 2000 times and let X be the sum of the values you get. Using the Central Limit Theorem, for what value of a is P[X >= a] approximately equal to P[N(0,1) >= 2] ?
Draw a normal probability plot for residuals using excel or Minitab. Do the residuals seem normally distributed? If yes, why?
To test whether there is any association between two variables using Chi-Square test for independence.
Show the graph of the probability density function for flight time.
A 56-question multiple choice test has 4 possible answers for each question and a student chooses the answers to each problem at random. A student selects 16 correct answers.
What types of variables are measured using Pearson coefficient, and what types variables are measured with chi square; I am looking for names of variables (e.g., nominal, interval)?
What is the population from which your sample has been taken? Description of data taken from other sources. Preliminary analysis using histograms, box plots, scatter plots, etc. and investigation of outliers. Do you keep or discard identified outl..
A sample of 160 workers in the downtown area classified each worker by race. A bar graph of the results is given below, but the bar for black workers in the graph below has been omitted.
How many units of capacity should be built to minimize the total cost of providing capacity plus lost sales?
The annual demand for a product is 1,000 units. The company orders 200 units each time an order is placed. The lead-time is 6 days, and the company has determined that 20 unites should be held as a safety stock.
If you assume returns follow a normal distribution, which investment would give a better chance of getting at least a $40 million return? Explain how your answer could change if you knew returns followed a skewed distribution instead of a normal d..
The budgeting process for a Midwestern college resulted in expense forecasts for the coming year (in $ millions) of $9, $10, $11, $12, and $13. Since the actual expenses are unknown, the following respective probabilities are assigned: .3, .2, .25..
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