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In a randomized, double-blind, placebo-controlled trial of children, echinacea was tested as a treatment for upper respiratory infections in children. "Days of fever" was one criterion used to measure effects. Among 337 children treated with echinacea, the mean number of days with fever was 0.8, with a standard deviation of 1.50 days. Among 370 children given a placebo, the mean number of days with fever was 0.64 with a standard deviation of 1.16 days (based on data from "Efficacy and Safety of Echinacea in Treating Upper Respiratory Tract Infections in Children," by Taylor et al., Journal of the American Medical Association, Vol, 290, No. 21). Use a 0.05 significance level to test the claim that echinacea affects the number of days with fever. Based on these results, does echinacea appear to be effective?
If the probability of making a two point shot is greater than the probability of making a three point shot, why do coaches allow some players to shoot the three point shot if they have the opportunity? Use expected value to explain your answer.
Do time series models rely heavily on cause and effect relationships between variables in order to ensure accurate predictions?
Sketch the distribution of Stanford -Binet IQ test scores. Write the equation that gives the z score corresponding to a Stanford-Binet IQ test score. Sketch the distribution of such z scores.
Find the probability of committing a type I error.
For a given confidence interval, what is the interpretation of a 96% confidence level?
if 100 tires are randomly selected for shipment to an outlet, what is the probability that they are all good? should this outlet plan to deal with defective tires returned by consumers?
Based on these results, is there significant difference between attitudes for males and for females? Use two tailed test with alpha = .05.
A financial planner wants to compare the yield of income and growth mutual funds. Fifty thousand dollars is invested in each of a sample of 35 income and 40 growth funds
Let's work with a really idealized normal distribution. We'll pretend that American 12-year-old boys have an average (mean) weight of 100 lbs.
Compare among expected monetary approach also expected utility approach. Sketch the brokers utility curve and describe what it says about her risk profile.
Find out the Optimum solution using the given data. Consider the following linear programming problem. Illustrate what is the optimum solution to this problem?
Given that we have collected pairs of observations on two variables X and Y , we would consider fitting a straight line with X as an explanatory variable if:
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