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Does lovastatin (a cholesterol-lowing drug) reduce the risk of heart attack? In a Texas study, researchers gave lovastatin to 2,325 people and an inactive substitute to 2,081 people (average age 58). After 5 years, 57 of the lovastatin group had suffered a heart attack, compared with 97 for the inactive pill.
(a) State the appropriate hypothesis.
(b) Obtain a test statistic and p-value. Interpret the results at α = .01.
(c) Is normality assured?
(d) Is the difference large enough to be important?
(e) What else would medical researchers need to know before prescribing this drug widely? (Data are from Science News 153 [May 30, 1998], p343)
Critically discuss how you can apply the concept and method of interval estimation to help you solve some of the problems in a regularly accounting department. Give a few examples.
Calculate sample proportion and then also calculate a 99% confidence interval for true population proportion, p.
Make a decision regarding the null hypothesis based on the sample information. Interpret the results of the test and state your conclusion.
Describe the effect of an outlier or extreme value on the confidence interval - Find the probability that the return for common stocks
In certain normal distribution of scores, mean is 50 and standard deviation is 4. Determine z-score corresponding to a score of 55.
The average time a subscriber spends reading the Wall Street Journal is 49 minutes. Assume that the standard deviation is 16 minutes and the time are normally distributed .
To determine her blood pressure, Carolyn divides her day into three parts; morning, afternoon, and evening. She then measures her blood pressure at 4 randomly selected times during each part of the day. What type of sampling is used?
I have been approached by a pharmaceutical company that has developed a new drug, which is supposed to be effective in the treatment of schizophrenia.
Find out the forecast value utilizing three month moving average method, weighted moving average method, exponential smoothing and regression methods.
In the game of roulette, a ball is dropped into a spinning wheel, finally landing on one of the wheel's 38 different slots. The wheel has 18 black slots, 18 red slots, 1 green zero, and 1 green double-zero.
You know that all sociology majors study 2.5 hours per day with a standard deviation of 1.
Research has shown that the people often see a correlation between two events when one does not really exist. Why do you think this happens?
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