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A new restaurant with 123 seats is being planned. Studies show that 57% of the customers demand a smoke free area. How many seats sould be in the non-smoking area in order to be very sure (mean+3StandardDeviation) of having enough seating there?
Given the same significance level, a ________ value of t will be required to reject the null hypothesis compared to the value of z required for rejection.
Chi-square test for independence of attributes - Describe why a x 2 test of the resulting contingency table is appropriate for such an investigation.
Explain how many cars would required to go by the speed trap to be 99.8% sure which at least one driver will warm oncoming traffic of the speed trap.
Many retail stores offer their own credit cards. At the time of the credit application the customer is given a 10 percent discount on the purchase.
Identify a key variable that you want to predict, and specify at least two variables that you think would be key in making that prediction.
Sketch density curves that might explain distributions with fallowing shapes: symmetric, but with two peaks( i.e., two strong clusters of observations)
Explain the purpose of the chi-square test for independence. Provide some practical examples where this test might be used in business.
Identify at your place of work (or a previous place of work, or an organization with which you are affiliated). Identify a dependent variable and 3 independent variables
The results of a district spelling bee for both girls and boys are normally distributed. the 60 girls have a mean score of 71 with a standard deviation of 6, while the 50 boys have a mean score of 66 points with standard deviation of 5 points.
Find out the probability that the return for common stocks will be more than 0%.
Choose one of these tests and describe in your own words, the purpose of the test, any particular assumptions or limitations pertaining to the test, and provide an example where you could employ the test.
A financial advisor has recommended two possible mutual funds for investment: Fund A and Fund B. The return that will be achieved by each of these depends on whether the economy is good, fair, or poor.
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