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Statistics for Managers class:
Many people do not "like" or "trust" single point estimates for things they need measured. Looking back at the data examples you have provided in the previous discussion questions on this issue, how might adding confidence intervals help managers accept the results better? Why?
Ask a manager in your organization if they would prefer a single point estimate or a range for important measures, and why? Please share what they say.
For the experiment above, let X denote the number of hearts that are drawn. For this random variable, find its expected value and standard deviation.
association we know association does not imply causation but what does this mean in your own words. provide and discuss
a study of 55 white mice showed that their average weight was 3.2 ounces. the standard deviation of the population is
Four different paints are advertised as having the same drying time. To check the manufacturer's claims, five samples were tested for each of the paints.
Calculate the probability the ACC will have a team in the championship game - how many different basic outcomes are in the sample space?
find the p-value obtained when testing the claim that p 0.75 when given sample data resulting in a test statistic of z
a. What is the probability that your friend will get a job paying at least $15/hour? b. What is the expected pay rate for your friend?
Can the five-year rate of return be estimated based on the assets of the Fund? Determine the regression equation. Use assets as the independent variable.
Suppose we want to design a new placebo-controlled trial to evaluate an experimental medication to increase lung capacity. The primary outcome is peak expiratory flow rate, a continuous variable measured in liters per minute. The primary outcome will..
a sample of 132 motels is selected from a large urban area and the price for a night of lodging for a single room was
a medical test for malaria is subject to some error. given a person who has malaria the probability that the test will
The marketing department likes to know patterns about the consumers who call the 1-800 phone bank with questions/problems.
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