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To determine monthly rental prices of apartment units in San Francisco Bay area, samples were constructed in the following ways. Identify the technique used to produce each sample. (cluster, convenience, random, stratified, systematic):
a) Number all the units in the area and use a random number table to select the apartments to include in the sample.
b) Classify the apartment units according to the number of bedrooms and then take a random sample from each of the classes.
c) Classify the apartments according to zip code and take a random sample from each of the zip code regions.
d) Look in the newspaper and choose the first apartments you find that list rents
Using the original data, estimate the population standard deviation with 90% probability.
Assume it is known that the distribution of purchase amounts by customers entering a popular retail store is approximately normal with mean $25 and standard deviation $8.
Using standard normal table, show critical value for left-tailed test with α = 0.02.
Compare and contrast internal and external validity. Describe and give examples of research questions for which external validity is a primary concern.
Would you conclude that your data set is approximately normal? If so, what percentage of your data values lie:
Compare the percentage found in b) to percentage given by Empirical Rule and Chebyshev's Rule. (Make a table 3 x 3).
Elucidate correlation coefficient of determination R-square also Adjusted R-square. A computer utility was implimentated to the data collected in a study of a generalized health.
The probability that student pilot passes the written test for a private pilot's license is 0.7. Find the probability that the student will pass the test: (a) on the third attempt (b) before the fourth attempt.
Develop a linear regression model for these data and forecast carpet sales if 30 construction permits for new homes are filed.
You are presented a 90% confidence interval for the difference in population mean scores (with drug - without drug) of (-17.81, -7.24). What can you conclude from this interval?
Compare among expected monetary approach also expected utility approach. Sketch the brokers utility curve and describe what it says about her risk profile.
A producer of pleasure boats wants to maximize revenue during the next month. Two types of boats are sold, x1 and x2. Type x1 sells for $40,000 and type x2 sells for $30,000.
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