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1. In some ways, ANOVA is like what communications engineers refer to as "signal-to-noise ratio". What could I possibly mean by that statement? Hint: consider what the ANOVA F statistic means when it has a value of exactly 1.Can you think of any situations where you might use ANOVA at your job or in any other business context?
2. By now, you should have read about nonparametric tests. Can you think of any business applications for the Chi-Square test?
Machine which fills quart milk cartons is set up to average 32.2 oz per carton, with standard deviation of 1.2 oz. Determine probability that filled carton will contain less than 32 oz of milk?
Using this information, calculate Blpha risk (probability of Type II error) if the true population mean really is 79.
The weekly salaries of teachers in one state are normally distributed with mean of $490 and standard deviation of $45. Determine the probability that a randomly selected teacher earns more than $525 per week?
Identify the level of measurement (nominal, ordinal, interval, ratio) for the number of shares held by stockholders.
A recent survey of frozen convenience meals found a correlation of r=0.768 between calories and fat content in the sampled meals.
What are the expected value and variance of the following probability distribution?
A company that manufactures computer chips wants to use a multiple regression model to study the effect that 4 different variables have on y, the total daily production cost (in thousands of dollars).
Show that theta~ = u(X) is an unbiased estimator of theta, where u(0) = 1 and u(x) = 0 if x =1,2, ... Compare the MSEs of theta(hat) and theta~ for estimating theta = e^(-m) when m=1 and m=2
A food snack manufacturer samples 13 bags of pretzels off the assembly line and weighs their contents. If the sample mean is 14.7 oz. and the sample standard deviation is 0.50 oz., find the 95% confidence interval of the true mean.
Use the sales data given below determine: a) The least square trend line.
Interpret the correlation between each set of variables.
To forcast the sample size within 0.02 with 90 percent confidence. The CEO of the organization needs to forcast the proportion of Canadians who own their house.
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