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An October 2011 CHS news/new York times poll found that 78% of a random sample of 1650 American adults thought that is was probably a good idea to significantly cut taxes for small businesses in order to create jobs. Use this poll result to give 70%, 80%, 90% and 99% confidence intervals for the proportion of all adults who feel this way. What do your results show about the effect of changing the confidence level? (Use Excel)
Which of these following statements provides the best guidance for the model building?
How could the Central Limit Theorem apply in making a business decision? Try to provide an example from your current or future career.
What is the most probable number of patients arriving each Saturday and give the main assumptions we make when we model the above situation using a Poisson distribution.
Draw the graph of the regression line on the same plot as the scatter diagram above.
Regression equation Credits=15.4-.07. Select the correct statement. Increase in number of hours worked per week increases the expected number of credits.
Survey of 16 tax returns reports families with incomes between $75,000 and 100,000 have on average $8,562 in Standard Deductions with the standard deviation of $1,800.
Does the data prove a significant difference in mean times?
What is the margin of error for a 95% confidence interval for the difference of the two means (low capacity - high capacity)? (Answer to the nearest hundredth.)
Fit a linear regression model for bp against sodium. Do you think this is a model with a good fit? Why?
Set up probability distribution by illustrating all x values and their associated probabilities. List sample space of tossing a fair coin.
Draw the decision tree and perform a decision tree analysis of Steeley Associates decision situation using expected monetary value and what is the value of the information provided by Bernard Consultants (EVSI)? Give a recommendation as to whether ..
You are looking at two used cars at a dealership. They are both the same year, make, model, color and price. You decide to ask the salesman which is more reliable.
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