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The information of the American Institute of Insurance indicates the average or median quantity of life insurance per family in the US is $1,000,000. This distribution has a positive slant. The standard deviation of the population is not known.
a) A chance sample of 50 families revealed an average or median of $112,000 and a standard deviation of $40,000. What is the standard error of the average or median?
b) Suppose that you select a 50 family's sample. Which is the form expected from the distribution of the average or median of the sample?
c) Which is the probability of selecting a sample with an average or median greater than $112,000?
d) Which is the probability of selecting a sample with an average or median greater than $100,000?
e) Find the probability of selecting a sample with an average or median greater than $100,000 but less than $112,000.
The student with the 92 found a grading error on her exam and her correct grade was 95. There were no other grading errors. After correcting this student's paper, the five number summary for the midterm exam will be
What is the null and alternative hypothesis? What is your final conclusion?
Suppose we wish to test the null hypothesis that there are no differences among the proportion of men and women who developed a rash. Evaluate the P-value of the chi-square test of this hypothesis.
Determine a 95% confidence interval for the population mean.
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Two types of flares are tested for their burning times (in minutes) and sample results are given below.
Why is it misleading to draw the conclusion from the test above that long-time exposure to cadmium reduces the vital capacity?
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A random sample of students is selected, and each one is asked to try first brand A and then brand B, or vice versa with the order determined at random.
How many subjects would you approximately need to reduce the length of the 95% confidence interval to 2 units?
Let X be the number of correct guesses by your friend in the 100 trials and Use the Normal approximation with the continuity correction - Which of the following might be reasonably modeled by the binomial distribution
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