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One main goal of statistics is to use non-complete information to draw a conclusion. Often (especially in economics) the conclusion from statistical analysis can trigger some specific policy response. In your response to this thread, think about an example in every day life when you use--or someone you observe uses--imperfect information/evidence to draw a conclusion and then act accordingly. Structure your example as follows (Question, Evidence, Response, Possible Mistakes): Like the below example...
Question: Will it rain later today?
Evidence: Look outside the window, listen to radio/tv weather reports.
Response: If I conclude it will rain, I will take an umbrella to work. If I conclude it won't rain, I will not take an umbrella.
Possible Mistakes: If I take an umbrella and it does not rain, my purse will be unnecessarily heavy. If I do not take an umbrella and it does rain, then I will get soaked.
What statistical test did the researchers use to determine if there was a statistically significant difference in levels of self-esteem between the boys and the girls?
Identify any points that lie outside a 95% Confidence Level (Mean plus or minus two standard deviations) using the above winter mean and standard deviation. Explain your answer. Graph the data.
Free Trade There has been considerable momentum to reduce or remove trade barriers in an effort to achieve "free trade." Yet, one disgruntled executive of an exporting firm stated, "
suppose we find a 95 confidence interval for the proportion of illinois residents who support the current pension
In this post, you will be challenged to look at how statistical tests, such as correlation are commonly used and the possible limitations of such analyses. In addition, you will need to identify the appropriate application of course-specified stat..
A medical school claims that more than 32% of its students plan to go into general practice. It is found that among a random sample of 130 students, 46 of them plan to go into general practice.
A Myrtle Beach resort hotel has 120 rooms. In the spring months, hotel room occupancy is approximately 75%. What is the probability that at least half of the rooms are occupied on a given day?
in basketball a players free throws percentage ft is expressed as a number between 0 and 1 which represents the
With a standard deviation of 9.87 minutes. At the 0.05 level of significance, test the claim that at this airport the mean wait for takeoff is less than the mean wait for baggage.
Calculate the mean salary of the CFOs and base on measures of the center of the data; determine if the CFO salary data are skewed.
a. Figure the means and standard deviations for the each group: governors and CEOs. b. Explain, to a person who has never had a course in statistics, what you have done.
spiders webs angles to the vertical of the earths surface are recorded. the following questions can be answered using
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