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Samples and Statistical Inference:
Statistics deals with data. The quality of statistical inference depends on the quality of the data collected.
Sometimes data is easy to collect, at other times it may not be as easy. Sometimes in the real world the number of things/people we want to collect data from or about are so huge and we have to make decisions on how this can be done in as reliable a manner as possible.
A chocolate manufacturing company wants to check the quality of their chocolates.
Explain how you would go about the process of choosing a sample to conduct the research indicated.
Use the questions listed below to format your responses.
• How would you develop your sampling frame?• Describe the process followed in forming the sample in the scenario you chose.
Make a decision regarding the null hypothesis based on the sample information. Interpret the results of the test and state your conclusion.
question a researcher believes that the percentage of people who exercise in california is greater than the national
There are 400 employes and 100 of them smoke. There are 250 males working for the company and 75 of them smoke. What is probability of an emloye selected random?
Develop and solve a linear optimization model to determine the optimal mix to maximize profit, and write a short memo to the president, Kathy Chung, explaining the sensitivity information in language that she can understand.
A large industrial firm uses 3 local motels to provide overnight accommodations for its clients. From past experience it is known that 20%: of the clients are assigned rooms at the Ramada Inn, 50% at the Sheraton, and 30% at the Lake view Motor Lodge..
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.
What is the probability that the percentage in the sample will deviate from the population percentage by no more than 7 percentage points?
An accounts receivable auditor is examining accounts for a client. The accounts receivable balance can be considered as a continuous random variable that exhibits normal distribution characteristics.
A professor in the psychology department would like to determine whether there has been a significant change in grading practices over the years.
Find the probability that the number who say oatmeal is their favorite cookie is (a) exactly four, (b) at least four, and (c) less than four.
What is the net income of SouthCo if unit sales are twice the break-even point for a given month?
Levels above 200 warrant attention. If 95 teenage boys are examined. How many would you expect to have cholesterol levels greater than 225.
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