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1. R.C. Geary wrote some 70 years ago that "Normality is a myth. There never was, is, nor will there ever be a Normal distribution". What do you think he meant and what relevance does it have to your work?(Read the Week 2 Lecture 1 before answering)
2.How do you feel that the inferential statistical technique of Hypothesis Testing can be used by managers to make better business decisions? How does or can your organization use this statistics concept as it conducts business research and makes decisions?
Find the test statistic value for testing the equality of population means of the two samples.
Index number acts as a barometer for measuring the value of money. What are the characteristics of an index number? State its utility.
Calculate a 3-month moving average forecast for months 4 through 9 also Compare the two forecasts by utilizing MAD. Which forecast appears to be more accurate.
Find the lowest possible score a candidate can score and still qualify. Assume the scores are normally distributed.
Given that Z is a standard normal random variable. What is the value of Z if the area to the left of Z is 0.9382?
How long do new batteries last on a camping trip? A random sample of n1 = 42 small camp flashlights were installed with brand I batteries and left on until the batteries failed.
State the correct decision and give justification for your decision.
A bowl with 10 marbles: 2 red marbles, 3 green marbles, and 5 blue marbles. We randomly select 4 marbles from the bowl, WITH REPLACEMENT, that is once a marble is selected, its color is noted and the marble is put back in the bowl (notice this doe..
Explain the relationship between total gross and opening gross total gross and number of theatres total gross and week in top 60.
Find the probability of accepting a lot as a function of the actual fraction of defective chips. In particular, let the actual fraction of defective chips in a given lot equal any of 0.02, 0.04, 0.06, 0.08, 0.10, 0.12, 0.14, 0.16, 0.18. Then compu..
The 'interaction effect' was also important. By using the means in the table above write a statement explaining how the anti-anxiety drug appears to affect anxiety. Are the outcomes consistent with the hypothesis proposed by the researchers?
Find out the operating characteristics for this system.
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