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A significance test is used to prevent a machine from under filling or overfilling quart bottles. On the basis of a sample, the null hypothesis is rejected and the machine is shut down for inspection. A thorough examination reveals there is nothing wrong with the filling machine. From a statistical standpoint, was there a "type" error made? If yes, which type? Explain.
A major department store chain is interested in estimating the average amount its credit card customers spent on their first visit to the chain's new store in the mall.
Describe the given data show a seasonal effect using moving average method. Describe the data which show a seasonal effect.
An element E has a constant failure rate (lamda) and a reliability at time t of R(t)=p, if p=0.2 and 0.8, What is the effect on Rs(t), and basic reliability, serial MTBF, of adding additional elements to the series baseline system containing a sin..
Given CAPM as the benchmark, is either of the two managers over-performing the market? What if you use the Sharpe Ratio as benchmark? Explain the answer carefully.
I survey 50 potential consumers regarding their interest in the product, 34 express an interest in purchasing it. The maximum price each would be willing to pay is shown below.
Using Analysis of Variance (ANOVA) test at 5% level if there are important differences in mean sales calls made across the three branches.
Compute the following .r = correlation between x and y = - 0.7 = mean of the values of x = 50.25 = mean of the values of y = 31.77 = standard deviation of the values of x = 15.85 = standard deviation of the values of y = 1.76 The slope of the leas..
Compare population means or proportions to determine the relationship between variables.
If an employee is selected at random, what is the probablity that the employee is female or works as a member of admin?
Why do we need a new test method to compare the means of 3 or more populations? Why can't we just use a series of z-tests or t-tests to compare all of the possible pairs of population means to see if one (or more) is different?
Determine SSE, SS (Total) and the explained sum of squared variation SSR and find the estimated y intercept slope and write the regression equation.
If the power plant of this city has a daily capacity of 12 million kilowatt hours what is the probability that this power supply will be inadequate on any given day.
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