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A large department store examined a sample of the 18 credit card sales and recorded the amounts charged for each of three types of credit cards: MasterCard, Visa and Discover. Six MasterCard sales, seven Visa and five Discover sales were recorded. The store used ANOVA to test if the mean sales for each credit card were equal. What are the degrees of freedom for the F statistic?
A random sample of five accidents resulted in the following number of persons injured: 18, 15, 12, 19, & 21. Using the .01 significance level, can we conclude the population mean is less than 20 for all accidents?
A teacher wants to know if students in her biology class did significantly better on an exam after instruction using authentic learning. The scores pre and post test are listed below. Based on an α = .05, what can the teacher conclude?
Simulate a completely random process of length 48 with independent, t-distributed values each with 5 degrees of freedom. Construct the time series plot. Does it look "random" and nonnormal? Repeat this exercise several times with a new simulation ..
Describe a business-related situation in which you would expect there to be a strong relationship (correlation) between an independent and dependent variable.
Individual loss amounts (ground up) this year follow an inverse Weibull distribution with τ= 3 and expected value 1000. Next year you con?fidently expect loss amounts to in?ate by 10% uniformly across the board.
Which two types of probability sampling are best suited for business research and statistical data analysis, and why?
Use Wilcoxon rank-sum test to test at the .10 level of significance to test the claim that the difference in dosage have significant effect on the length of time it takes guinea pigs to fall asleep.
Test this conjecture with formal hypothesis test, by using a 5% significance level. Find out the p-value for hypothesis test.
Standard deviation of sample was $3.53. Determine point estimate of population mean. Determine the 95% confidence interval of population mean. Suppose the variable is normally distributed.
Which of the following is not an advantage of using a cluster sample instead of other types of samples?
You took a sample of your expenses for 20 weeks and found that the average is $285 and the standard deviation for the sample is $25. Set up your null and alternative hypothesis for testing whether your cists are different and do the analysis using..
The following survey questions have been established for a medical errors and patient safety business research paper:
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