Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Question: Confidence Intervals
Many people do not "like" or "trust" single point estimates for things they need measured. Looking back at the data examples you have provided in the previous discussion questions on this issue, how might adding confidence intervals help managers accept the results better? Why?
Ask a manager in your organization if they would prefer a single point estimate or a range for important measures, and why? Please share what they say.
REFERENCE
Tanner, D. E., & Youssef-Morgan, C. M. (2013). Statistics for managers [Electronic version]. Retrieved from https://content.ashford.edu/Chapter 11: Confidence Intervals
Note: You do not need to read Section 11.3
Chapter 12: The Chi-Square Test: Analyzing Categorical Data
Verified Expert
The solution contains Three measures of central tendency, mean, median and mode. computation of 95% confidence intervals
a) A ticket is randomly selected from Box 1. Let the random variable, X, represent the number selected from the box. Give the probability distribution of X. b) Suppose two tickets are drawn from Box 1 with replacement (after a ticket is drawn it is p..
Calculate the mean and standard deviation of the G-7 data on unemployment rates. b. Calculate the individual z-scores of the unemployment rates for Canada and Japan. Describe what these z-score values mean in words.
Calculate the sample size needed given these factors
Consider a censored sample from the exponential distribution with rate parameter λ and fixed censoringtime c, common to all individuals that were in the study. That is, individual i is censored iffailure time, Xi > c. Otherwise Xiis observed.
This is used when a conservative approach is desired and an expected cell frequency is less than 5 in a 2X2 table. Fisher's exact test, Cramer's V, Yates' correction or Regression
In addition, what are some of the real world cautions related to statistical inference and hypothesis testing that managerial practitioners need to be aware of?
The director of marketing for a company manufacturing laundry detergent conducts an experiment to compare satisfaction with the laundry detergent product based on level of temperature used for the wash. A random sample of 500 individuals
What type of analysis was conducted in this study? Was this analysis technique appropriate? Provide a rationale for your answer and how many means are being compared for the pain scores at 12 weeks?
Provide confidence intervals for the following. (assume sample size/ normality conditions hold 95%CI with meanx ¯=10,s^2 =9,n=11.
Statistics from Cornell's Northeast Regional Climate Center indicate that Ithaca, NY, gets an average of 35.4" of rain each year with a standard deviation of 4.2". Assume the data is normally distributed.
Suppoe that A1, A2, A3 form a partition of the universal set S. Let B be an arbitrary set. Assume that we know |B∩A1|=10, |B∩A2|=20,
The normal curve is the shape that represents how variables are distributed, and it has some very interesting characteristics: a) the mean, the median, and the mode are all the same value; b) it is symmetrical about its midpoint, which means that the..
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd