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Calculate (a) MAD, (b) MSE, and (c) MAPE for the following forecast versus actual sales figures.
Forecast
Actual
100
95
110
108
120
123
130
Assuming that the Poisson distribution is a plausible model in describing variability of asbestos fiber counts in filters; derive a 95% confidence interval indicating the variability in the average number in asbestos fibers.
A certain airplane has 2 independent alternators to provide electrical power. The probability that a given alternator will fail on a 1 hour flight is 0.02. What is the probability that (a) both will fail? (b) Neither will fail? (c) One or the othe..
Problems on Sampling Variability and Standard Error and Confidence Intervals
With the test statistic you chose, work out the problem with solution using .05 level of significance if it applies.
The weight of a product is normally distributed with a standard deviation of .5 ounces. What should the average weight be if the production manager wants no more than 5 percent of the products to weight more than 5.10 ounces.
Perform the chi-square test for a uniform distribution. At α = . 01, does this sample contradict the assumption that readership is uniformly distributed?
Conduct a statistical test to determine if the sample is representative of the population.
Determine the value of correlation coefficient between these 2 variables?
Illustrate what was the lowest score earned on the exam. Explain how many students scored within 3 standard deviations of the mean.
Assuming we can verify that the data set is approximately normally distributed, what percentage of times will the server be down less than 24 minutes?
Real estate agents always say "location, location, location" is the most important thing in buying a house. We want to know if the sales prices of homes in two neighborhoods are similar. A random sample is taken from each neighborhood. The prices ..
Create a hypothesis and perform a series of tests to determine if there is any fundamental difference in the findings.
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