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Suppose you want to estimate the proportion of traditional college students on your campus who own their own car. You have no preconceived idea of what that proportion might be.
a) What sample size is needed if you wish to be 95% confident that your estimate is within 0.02 of the true proportion?
b) What sample size is needed if you wish to be 99% confident that your estimate is within 0.02 of the true proportion?
c) What sample size is needed if you wish to be 95% confident that your estimate is within 0.05 of the true proportion?
Find out the conditional probability for the given data. Illustrate what is the conditional chance that the selected person is male?
The data was used to make inferences regarding the other students taking the course. Construct a 95% confidence interval estimate. Explain your findings so that your non-quantitative partner will understand them. Their data is below:
Given your answer to part a and a stated interest rate of 9 percent on the total amount borrowed, what is the effective rate on $400,000 actually being used?
assume the readings on thermometers are normally distributed with a mean of 0 degrees celsius and a standard deviation
After being repaired, a machine functions for an exponential time with rate λ and then fails. Upon failure, a repair process begins. The repair process proceeds sequen- tially through k distinct phases. First a phase 1 repair must be performed, th..
Does it fall into the confidence interval computed from the sample data? What does this tell you?
Probability of fair market is 0.4, and probability of bad market is 0.2, and he wants to maximize his long-run average return. Create the decision table for this problem.
Identify at least 2 variables for which you would utilize a repeated-measures ANOVA in your analysis. Describe the variables and their scale of measurement.
Determine the mean and standard deviation of following probability distribution.
Where you are calculating the value of uncertain outcomes (probability nodes on the diagram), do this by multiplying the value of the outcomes by their probability. The total for that node of the tree is the total of these values.
With a single-sample t ratio, the null hypothesis states that:
What is the geometric mean annual increase for the period?
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