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A social worker randomly selects 28 households with children. He finds a correlation coefficient of -0.21 between average weekly work hours of the parents and the happiness index of the children in that household. Is this correlation statistically significant? He also found the regression coefficient to be -1.66. Is this regression coefficient statistically significant? Explain why or why not for each.
Describe the data appear the strength of the relationship among variables is sufficient to warrant using linear regression forecasting.
The means appear to be very close, but not the variances. At α = .05, is there a difference in variances? Show all steps clearly, including an illustration of the decision rule.
Determine sample size requirements. When the results are available you would like your margin of error to be plus or minus 5% for the satisfaction measure and plus or minus $1.50 for the spending value.
What's the expected value of sample information? How much might the physicians be willing to pay for a market study?
Criterion of realism or Hurwitz. Assume that the payoff from an investment depends on market conditions. Illustrate what is the criterion of realism value.
Suppose that X1,..,Xn form a random sample from the normal distribution with unknown mean M and unknown standard deviation S, and let m and s denote the MLEs of M and S. for the sample size n=17, find a value of k such that P(m > M +ks) = 0.95
Which of the following statements is consistent with the scatterplot
Using α = .05 test for significance differences among the population mean wasted time for theses three urban areas. What is the p-value? What is your conclusion?
Test the proportions of yellow fire trucks have a significantly lower accident rate.
Fitting of simple linear equation - Prepare an equation showing how daily sales are related to number of customers per day.
Find the percentage of the total variation that cant explained by the linear relationship between the two variable.
Evaluate the probability that patient taking drug will experience flu symptoms.
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