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The standard deviation in the 12-month earnings per share for 10 companies in the airline industry was 4.27 and the standard deviation in the 12-month earnings per share for 7 companies in the automotive industry was 2.27 (Business Week, August 14, 2000). Conduct a test for the equal variances at a=.05. What is your conclusion about the variability in earnings per share for the airline industry and the automotive industry?
In comparing the two variances below, what is the test value and what are the degrees of freedom that should be used?
Which of the following exam scores should lead to the better grade?
Computing probability values using normal distribution - How many students earned between $20,000 and $40,000
That's a much larger sample than standard sample surveys. In spite, we cannot trust result to give good information about any clearly defined population. Explain why?
The probability is 1 in 4,000,000 that a single auto trip in the United States will result in a fatality. Over a lifetime, an average U.S. driver takes 50,000 trips. (a) What is the probability of a fatal accident over a lifetime? Explain your rea..
Compare a three-month moving average forecast with an exponential smoothing fore-cast for a = 0.2. Which provides the better forecasts using MSE as the measure of model accuracy?
The mean monthly demand for steam boilers is 6.8 with a standard deviation of 1.7. Compare the dispersion of these distributions. Which demand pattern has more relative variation? Explain.
At the .05 level, you are testing whether there is a significant difference in the proportions of college students and similar aged non college students having accidents during the two year period. Is this a test of sample means or sample proporti..
Is there a significant difference in the proportions of patients reporting pain relief?
What is the chi-square goodness-of-fit test? What are the differences/similarities between this test and an independent t-test? How do you know when to use one analysis over the other? Show an example.
The average hourly wage last year for members of the hospital clerical staff in a large city was $6.32. The standard deviation of the population was $.54. This year a sample of 50 workers had an average hourly wage of $6.51. Test the claim at alph..
The city of Oakdale wishes to see if there is a linear relationship between the temperature and the amount of electricity used (in kilowatts).
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