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Explain the parts of a decision tree.
What are some benefits of using decision trees?
In what ways can decision trees be used for business decisions? Name some real-world examples.
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?
Conduct a hypothesis test to determine whether the whisper number justifies a conclusion of a statistically significant increase in the consensus estimate of economists. Use a = .01 as the level of significance.
Which is more likely to occur-more than 60% correct identifications in the sample of 200 or more than 55% correct identifications in a sample of 1,000? Explain.
Looking at sample distribution from part b, find out how big treatment effect is. Specifically, determine the distance between sample mean and original population mean?
Create and answer two exponential model questions: Formula y = ab^x. Create and answer two continuously compounded interest questions: Formula A = Pe ^r*t
Which measures of central tendency will always have but one (1) value for a set data?
Based on this information, by what factor does the risk of having an accident increase due to driving while intoxicated?
A second sample of 61 has a mean of 100 and a population standard deviation of 8. Conduct a z-test about a difference in sample means using a 0.03 significance level and the following hypotheses.
Can the value 0.64 be rejected if a survey of 495 homes in Omaha yields 332 with one or more lawn mowers? Use = 0.05.
Using the .10 level of significance, can we conclude that the assembly time using the new method is faster?
If the coefficient of correlation is 0.4, the percentage of variation in the dependent variable explained by the variation in the independent variable
The probability that it is a camper with Canadian license plates is 0.09. What is the probability that a camper entering the Luray Caverns has Canadian license plates?
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