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Q1) Calculate population mean margin of error for 99% confidence interval when sigma is 4 and sample size is 36.
A) ± 1.7166...
B) ± 1.0966...
C) ±1.3066...
D) None of these
Q2) An auditor wishes to evaluate what proportion of bank's commercial loan files is incomplete. Auditor wishes to be within 4% of true proportion when using a 95% confidence level. How many files should auditor sample? No estimate of proportion is available, so use 0.5 for population proportion.
Q3) Standard IQ test has mean of 98 and standard deviation of 16. We wish to be 90% certain that we are within 8 IQ points of true mean. Find out sample size.
a)11
b) 10
c) None of these
d) 27
Q4) Let us suppose you have taken 100 samples of size 64 each from normally distributed population. Compute the standard deviation of sample means if population's variance is 49.
Q5) In standard normal distribution standard deviation is always ___
a) 0
b) 2
c) 1
d) None of these
Suppose the probability of the worst-case scenario increases Compute the expected value of perfect information
As it is a 2 × 2 table, try also two-tailed two-sample z test for π 1 = π 2 and verify that z 2 is same as your chi-square statistic. Which test do you prefer? Explain why?
Recent studies have shown that the super-cooling temperature of terrestrial frogs frozen at -6°C has a relative frequency distribution with a mean of - 2°C and a standard deviation of 0.3°C (The first of these studies was reported in Science, May ..
A chance sample of 50 families revealed an average or median of $112,000 and a standard deviation of $40,000. What is the standard error of the average or median?
Determine the probability of choosing at random license plate which ends in the even number?
They are thinking of introducing a new flavour, maple-marshmallow Frumpies, and want to know whether children will prefer the new flavour to the old one. Design a completely randomized experiment to investigate this question.
Estimate and interpret the p-value of the calculated test statistic above.
Conduct an analysis of variance
Verify value of t for the independent Variable, using formula. (That is, using formula in the Formula Sheet compute the t statistic , given data provided in the print out).
Give an example of a hypothesis test you could perform at work or at home. State what the Null and the Alternative hypotheses would be in your test.
In textile industry, a manufacturer is interested in the number of blemishes or flaws occurring in each 100 feet of material. Of the following probability distributions, the one that most applies to this situation is the.
The manager of Sandy Corporation wants to determine whether or not the type of work schedule for her employees has any effect on their productivity. She has selected 15 production employees at random and then randomly assigned 5 employees to each ..
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