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Problem 1. Confidence Intervals: t tests. Digitized Documents, Inc., is a small but rapidly growing firm in the digitized document translation business. The company reads architectural and engineering drawings into a scanning device that translates graphic information into a digitalized format that can be manipulated on a personal computer or work station. During recent weeks, the company has added a total of five new clerical and secretarial personnel to help answer customer questions and process orders. Data on the number of years of work experience for these five new workers is as follows:
5 4 3 4.5 3
A. Compute the mean, median and mode measures of central tendency for the number of years of work experience. Which measure does the best job of describing central tendency for this variable? The mean is 3.9 years per worker. The median is 4. The mode is 3. Each measure of central tendency offers a highly similar view of the typical observation.
B. Compute the sample range, variance and standard deviation for this data series, and the 95% confidence interval within which you would expect to find the population's true mean. The range for these workers if from 3 to 5 years experience. The sample variance is 0.8 (years squared) with a standard deviation 0.894427 years.
Obtain a test statistic and p -value assuming equal variances. Interpret these results.
Thirty-five fourth-grade students were asked the traditional question "what do you want to be when you grow up? The responses are summarized in the following table:
Based on past data, the Student Recreation Center knew that the proportion of students who prefer exercising outside over exercising in a gym was 0.734. To update their records, the SRC conducted a survey. Out of 95 students surveyed, 76 indicated..
They estimated the proportion of students at the university who prefer outdoor exercise as (0.5745, 0.8217), with 95% confidence. Which of the following is an appropriate interpretation of this confidence interval?
Out to right, create a 90% confidence interval estimate of sigma (σ), population standard deviation.
(a) Write the fitted regression equation, (c) What is your conclusion about the slope.
Assuming the sigma of 200 was actually the standard deviation for the sample, recalculate the interval estimate. Discuss how this changed your result from that in part b.
You're considering an investment in the common stock of Crisp Cookware. The stock is expected to pay a dividend of $2 a share at the end of the year (D1 = $2.00). the stock has a beta equal to 0.9.
Using the results, describe the effect of an outlier or extreme value on the confidence interval.
Based on the result, does there to be an overall perception of 1 minute that is reasonably accurate?
Which of the following studies used a participant observer approach?
College students are a major target for advertisements for credit cards. At a university, 65% of students surveyed said they had opened a new credit card account within the past year.
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