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A gambler loses 10 times running at roulette. He makes decision to continue playing as he is due for win, by law of averages. Bystander suggests him to quit, on ground that his luck is cold. Who is correct? Or are both of them wrong?
Suppose you want to test the claim that population mean miu=3.5. Given a sample size of n=34 and a level of significance of alpha=0.01, when should you reject Ho?
Solve the following problem for distribution with a mean 80 and standard deviation of 10. Find out at least what percentage of values will fall between 60 and 100.
Determine mean and standard deviation for number of erroneous returns per batch.
Why is estimating a multiple regression model just as easy as bivariate regression?
Random samples of 25 observations were selected from each of 3 populations. For these data, SSTR= 120 and SSE = 216.
A human resources director, on learning about the regression effect, decides to hire people who have been fired by their previous employer for poor performance.
Then, give two examples of correlation which are evaluated in a business environment and discuss the decision made by evaluating the correlation.
According to Chebyshev's theorem, proportion of values from data set that is further than 2 standard deviations from the mean is at most?
Managers at Beta Technologies, Inc., have collected current annual salary figures and potentially related data for a random sample of 52 of the company's full-time employees.
Confirm that these statements are accurate by finding the geometric mean rate of increase.
Student team examined parked cars in 4 different suburban shopping malls. One hundred vehicles were studied in each location. Research question : At α = . 05.
A researcher wishes to estimate within $300 the true average amount of money a country spends on road repairs each year. If she wants to be 90% confident, how large a sample is necessary? The standard deviation is known to be $900.
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