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Testing the Difference Between Two Means." (Note: Please respond to one [1] of the following two [2] bulleted items)
What two assumptions must be met when you are using the z test to test differences between two means? Can the sample standard deviations s1 and s2 be used in place of the population standard deviations σ1 and σ2?
Retired workers and disabled workers both receive Social Security benefits. What information would we need to test the claim that the difference in monthly benefits between the two groups is greater than $30 at the 0.05 level of significance? Write out the hypotheses and explain the testing procedure.
A portfolio p of consisting 60% of stock X and 40% of stock Y, has a correlation ρpM = 0.62 with the market. What is the portfolio volatility? Statement on the diversification effect.
MSA Computer Corporation manufactures two models of minicomputers, the Alpha 4 and Beta 5. The firm employs 5 technicians, working 160 hours each per month, on its assembly line.
Develop a joint probability table for these data. If a student goes full time, determine the probability that school quality is first reason for selecting a school?
Calculate the average or the median of the average or medians of the samples and compare it with the average of the population.
A recent study indicated that 29% of the 100 women over age 55 in the study were widows. If no estimate of the sample proportion is available how large should the sample be?
Explain in detail what the optimum Neyman=Pearson test is for all values of the false alarm probability a in the open interval (0,1).
Martin Motors has in stock three cars of the same make and model. The president would like to compare the gas consumption of the three cars (labeled car A, car B, and car C) using four different types of gasoline.
If you estimate a regression using OLS, but you do not include an intercept, do you know if the mean of the residuals is zero? Explain.
For large correlations, the SAS program simply states that p
Using the following data, test the question that an equal number of Democrats, Republicans, and Independents voted during the most recent election.
a 60-watt outdoor lightbulb is advertised as having an average life i.e. mttf of 1000 operating hours. however
A manufacturer claims that the life span of its tires is 52,000 miles. You work for a consumer protection agency and you are testing these tires. Assume the life spans of the tires are normally distributed.
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