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What is the difference between the probability value and the significance level? Please, also provide examples.
In a random sample of 80 items, the defect rate is 5% but the manager claims that this is only a sample fluctuation and production is not really out of control. At the 0.01 level of significance, does the data provide sufficient evidence that the ..
The scores of students taking the Scholastic Aptitude Test (SAT) are normally distributed with a mean u = 1035 and a standard deviation o = 131.
Employees of a local university have been classified according to gender and job type. The following table provides data about the employees.
Find out the test statistic P-value, and critical value, and state the final conclusion. The mean IQ score of statistic professors is less than 120. Sample data: n = 46. Suppose that = 17, and the significance level is = 0.05.
Suppose it has been determined that the average number of customers waiting for service is 1.929. There are two servers. Determine:
Define a game and prepare the odds of winning. The game could be a card game with two cards or a dice game. Use MS-Excel (if possible) to solve this problem
What is correlation analysis? How can correlation analysis be used in a business decision or examples specifically related to strategy formulation and implementation?
Heights are sampled of kids from three schools. Using a 0.05 significance level, if when looking at ANOVA results, your p-value is 0.04, what can you say about your sample data? No minimum word count.
Comment on your statistical findings? Do you agree with your initial statement regarding the preference of an ANOVA over a t-test when examining more than two groups?
Jim Sellers is thinking about producing a new type of electric razor for men. If the market were favorable, he would get a return of $100,000, but if the market for this new type of razor were unfavorable
The point estimate for the difference between the proportions is:
A random sample of 80 observations from a normally distributed population produced a mean x(bar over the x)= 22.6 . Find a 95% confidence interval for the population mean m if the population standard deviation
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