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Explain the difference between testing a single mean and testing the difference between two means. What two assumptions must be met when one is using z test to test differences between two means? When can the sample standard deviations s 1 and s 2 be used in place of the population standard deviations σ1 and σ2 ?
Develop a decision tree and/or complete payoff tables to represent the alternatives and outcomes for consideration by PIMCO.
Suppose 18 customers are selected at random. What is the probability that between two and six people inclusive want hot peppers?
The manager of a local bank wants to estimate the average amount held in checking accounts by the customers. A random sample of 30 customers is selected, and the results indicate a sample average of $4,750 and a sample standard deviation of $1,200..
A car rental company has determined that the probability a car will need service work in any given month is 0.2. The company has 900 cars.
The data show that 48 of the doctors picked brand x. If these data were evaluated using a chi-square test for goodness of fit, what is the expected frequency for brand x?
Find a 90% confidence interval for the population mean weight of all such turtles.
According to the Insurance Institute of America, a family of four spends between $400 and $3800 per year on all types of insurance. Suppose the money spent is uniformly distributed between these amounts.
Figure out the necessary sample size to reduce sampling error to plus or minus $500. Do you need to have an estimate of the current mean income to answer this question? why or why not?
What does the coefficient of determination tell you about the variation attendance and the variation in the number of exhibitors?
Can the researcher conclude that humidity has a significant effect on eating behavior? Use a two-tailed test with α=.05. Compute the estimated d and r2 to measure the size of the treatment effect.
When sampling is done for the proportion of defective items in a large shipment, where the population proportion is 0.18 and the sample size is 200, what is the probability that the sample proportion will be at least 0.20?
A sample of n observations is taken from a population. When performing statistical inference about a population variance, the appropriate chi-square distribution has:
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