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Electricity is commonly traded at the California-Oregon border (COB) and Palo Verde (PV) in Arizona. Assume you take a sample of 100 daily electricity market closing prices (in $/megawatthour) from both COB and PV. The following are the summary statistics resulting from your sample:
COB PVAverage Price $200 $300Standard Dev. $100 $50Sample Size 100 100
Using the information above conduct a hypothesis test to determine if the average market price at COB is the same as the average market price at PV (Hint: You are looking at the difference in two means). Assume α = .05 and remember to clearly state your null and alternate hypothesis as well as your conclusion about whether or not the average prices are equal.
If a person were to be hit by lightning, they have a 33 percent chance of being killed. Find the odds that a person will be killed if struck by lightning.
You take a random sample around town and calculate a p-value for your hypothesis test of 0.0913. What is the appropriate conclusion? Conclude at the 5% level of significance.
The data in the next table resulted from an experiment that used a completely random design. Test the null hypothesis that u1 = u2 = u3, where ui represents the true mean for treament i, against the alternative that at least two of the means differ..
If member of sales force submits the entertainment expense (dinner cost for four) of $190, must this expense be considered unusually high. Calculate and interpret z- score for each of six entertainment expenses.
The instructor plans to draw a histogram of the 1,100 sample proportions. What will be the approximate mean for the 1,100 sample proportions?
A clinical investigator is interested in understanding the relationship between demographic factors and congestive heart failure, measured by a cardiac index (CI).
Suppose a random sample of 25 swatches are selected. What is the probability that the mean of the sample is less than 235 pounds per square inch.
What effect has the transformation had on the lowest exam mark and what effect has the transformation had on the highest exam mark - STATS 201/8 Data Analysis
The lifetimes of light bulbs of a particular type are normally distributed with a mean of 370 hours and a standard deviation of 5 hours. What percentage of bulbs has lifetimes that lie within 1 standard deviation of the mean on either side?
Positive values correspond to students who gained weight and negative numbers correspond to students who lost weight. Is a weight fain of 15 pounds of (6.8) kilograms unusual?
Create a flow diagram for entire process. Include flow paths for students (solid lines) and prescriptions (dashed lines).
If there are repeated independent trials and there are only two outcomes, what distribution should be used?
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