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A buyer wants to compare the cost (in dollars) of airline tickets purchased one day in advance to purchased 30 days in advance for flights from New York (JFK) to San Francisco for various airlines. Use a 0.01 significance level to test the claim that flights scheduled one day in advance cost more than flights scheduled 30 days in advance. A computer is used and it is found that the P-value = 0.0016. What can you state about the sample (independent or dependent) and what can you conclude about the evidence?
The p-value for a test statistic is .085, what is the minimum level of significance required to reject the null hypothesis?
Discuss how graphical representations can be used to display data in a meaningful way. Choose a specific business application and describe an example of a specific graph or chart that can be used to interpret data and why it is so useful.
An important idea in data interpretation is choosing which graph to use under which circumstances. Describe the benefits of different graphs for different sets of data:
LSAT scores are normally distributed, with a mean of 150 and s = 10.
The incarceration rate in one nation's prisons was 965 per 100,000 male residents, and 65 per 100,000 female residents.
If a group is chosen from a population on the basis of sharing the same percentages of trait features as known to exist in the population, then the group so chosen would constitute:
A diet is being developed which must contain at least 100 mg of vitamin C. Two fruits are used in this diet. Bananas contain 30 mg of vitamin C and Apples contain 20 mg of vitamin C. The diet must contain at least 100 mg of vitamin C. Which of the..
A student scores 81 on a chemistry test and 75 on a history test. For the chemistry test, the mean was 70 and the standard deviation was 20. For the history test, the mean was 65 and the standard deviation was 8.
Describe a study you might design that could use the Chi Square statistic. What are the variables? What are the null and alternative hypotheses? Why would the Chi Square test be appropriate for this design?
Find the most powerful predictor among the six independent variables using regression.
Which of the given signifies difference in two population proportions?
At the 0.05 significance level, can Ms. Bridgend conclude that she is earning an average of more than $20 in tips?
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