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1. What characterizes a regular definition (dictionary) and an operational definition?
2. What is the purpose of sampling?
3. In distributions of populations, please consider Chebyshev's rule and the Empirical Rule. This takes some thinking.
a) When (what kind of a situation) would you use each in business? Why are they important? How are they calculated?
4. However we need to look closer at "causal research". Now concerning causal research let us look deeper: What must we actually show (necessary and sufficient conditions) if we are to prove cause and effect?
5. An important practical consideration when sampling is the sample size. So, what determines sample size? What influences our decisions?
Find a 95% confidence interval for the mean daily caloric intake. Interpret this interval.
Nine percent of undergraduate students carry credit card balances greater than $7000. Presume 10 undergraduate students are selected randomly to be interviewed about credit card usage.
Using Microsoft Excel, create a correlation analysis of Wal-Mart's annual net income over the past 10 years compared with Sears's annual net income over the past 10 years and interpret the results.
Five homes were recently sold in Oxnard Acres. Four of the homes sold for $400,000 while the fifth home sold for $2.5 million. Which measure of central tendency best represents a typical home price in Oxnard Acres?
A fair coin is flipped 3 times. Compute the odds of flipping 3 tails.
Determine Probability using exponential distribution.The average time between failures of a laser machine is exponentially distributed with the mean of 40,000 hours.
At the 5% level of significance test whether the bottling process is carried out accurately or whether the filling machinery needs calibration. Use both the critical and the p-value approaches.
Using part(a), explain to investor differences between distribution of performance figures for the 2 kinds of stock funds.
An electronic test equipment manufacturing company markets a certain piece of specialty equipment. The company has several competitors who currently market similar pieces of equipment.
To cross a single lane of moving traffic, we require at least a duration d. Successive car interarrival times are independently and identically distributed with probability density function fT (t).
Give an example of a hypothesis test. State what the Null and the Alternative hypotheses.
Find the average age at which people will experience their first cardiac incident, given that 17% of all initial cardiac incident victims are younger than 50. Please, interpret the result.
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