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An advertising agency won't sign an athlete to do product endorsements unless it is sure the person is known to more than 25% of its target audience. The agency always conducts a poll of 500 people to investigate the athlete s name recognition before offering a contract. Then it tests at a 5% level of significance.
a) Why does the company use upper tail tests in this situation?
b) Explain what Type I and Type II errors would represent in this context, and describe the risk that each error poses to the company.
c) The company is thinking of changing its test to use a 10% level of significance. How would this change the company s exposure to each type of risk?
At the .05 significance level, can we conclude that the guideline is still reasonable?
question a recent study by an automobile dealer revealed the mean amount of profit per car sold for a sample 20
let etwn. consider two time series models model a 11.3b0.65b2raised to the second power 0.325b3 1.625b4 0.05b5y t et
A 99% confidence interval estimate of the population mean can be interpreted to mean that we have 99% confidence that the true population mean will fall within the confidence interval estimate.
The mayor of a small town would like to know whether a local bond issue is likely to pass or not. He mails a survey to 500 randomly selected voters.
A shipment of 100 pins contains some defectives. To decide whether to accept the shipment, the consumer follows a sampling plan where 15 items are cho- sen at random from the sample and tested. If the number of defectives in the sample is at ..
Looking at given Figure, what approximately is the interquartile range? How large or small must a value be to be declared an outlier?
The expected value of the number of simple random samples of size 20 that must be drawn until (and including) the first sample that contains at least one voter who is neither a Democrat nor a Republican is?
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The distribution of meansdistribution and the distribution of means, showing the t score and cutoff points for significance. (c) Explain your answer to someone who has never taken a course in statistics.
question a researcher believes that the percentage of people who exercise in california is greater than the national
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