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1. What does it mean practically when we say that we found a significant difference between two groups using a t-test?
2. Describe a business situation where you would want to use a t-test. Why would you choose that test? What would you expect to show by doing this?
3. Describe a business situation where you would want to use an ANOVA. Why would you choose that test? What would you expect to show by doing this?
4. Say you are looking at the difference between two groups. When you look at the means, it looks obvious that there is a difference between the groups. When you run the analysis however, your p-value comes out to be .098. Assuming that you wanted to show a difference and were able to collect more data, what would you change to ensure that you got a significant difference the second time?
Determine the distributions given below represent a probability distribution. Justify your answer.
A five-year old study claims that selling prices of new homes / condominiums in the New York area have a normal distribution with mean = $180,000 and standard deviation = $40,000.
The standard deviations s1 and s2 can be used when Ó1 and Ó2 are unknown and you believe that the underlying distribution is normal. Then, you would use s1 and s2 with the t-test for hypothesis testing.
What is a Wilcoxon-Whitney Test and when is it used? I am not sure when to use the Wilcoxon-Whitney Test and what it is testing.
Determine wheter the given procedures results in a binominal distribution. If it is not binomial, identify the requirements that are not satisfied.
The following data are from an independent-measures experiment comparing two treatment conditions. Do these data indicate a significant difference between the treatments
A plane has two alternators with the probability that a given alternator will fail on a l hour flight is .02. What is the probability that both will fail
At the .05 significance level, can we conclude that the mean waiting time is less than 3 minutes?
What fraction of the calls last between 4.2 and 5 minutes?
If only one bolt is chosen, determine the probability that it will be found defective for only 1 reason (that is. it is either too large or has poor workmanship, but not both.)
Find the asymptotic distribution of the MLE of the indicated parameter and find formulas for approximate standard errors of the MLE.
Recognize the given samples are independent samples or matched pairs.
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