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An average waiting time in an Emergency Room for n = 60 randomly selected patients was found as x¯ = 25 minutes (sample mean).
Find Margin of Error and Confidence Interval for the population mean of waiting time in that hospital. Population standard deviation is given, σ=5 min, and Confidence Level is 95%.
Using a three month moving average, what would the forecast and MAD have been for July? Which forecasting method would you recommend? Why?
This assessment task covers topic 3, and has been designed to ensure that you are engaging with the subject content on a regular basis. More specifically it seeks to assess your ability to:
A sample of 64 statistics students at a small college had a mean mathematics ACT score of 28 with a standard deviation of 4. Estimate the mean mathematics ACT score for all statistics students at this college. Give the 95% confidence interval.
A nurse reading this finding knows that the researcher should decide that there is not enough information to decide on statistical significance.
What were the major characteristics of the Restoration colonies?
test scores for a statistics class had a mean of 79 with a standard deviation of 4.5. test scores for a calculus class
Consider the financial market with N = 1, M = 1, r = 0, S1(0) = 100, S1(1) = 130, 110, or 80, all with positive probability. Find all possible risk-neutral probability measures.
Population is know (from a previous large survey) to be $3000 with the standard deviation of $400. Find the 99% confidence interval for the sample mean.
Provide a business example that you can apply regression to. State the null and alternative hypothesis using the appropriate phrasing for the type of regression chosen.
The mean television viewing time for teens is 3 hours per day. Assume the population mean is 3 and the population standard deviation is known to be 1.2 hours.
We are planning an experiment on the quality of video tape and have purchased 24 tapes, four tapes from each of six types. The six types of tape were 1) brand A high cost, 2) brand A low cost, 3) brand B high cost, 4) brand B low cost, 5) brand C ..
genes related to albinism are denoted by a non-albino and a albino. each person has two genes. people with aa aa or aa
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