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A real estate agent in the coastal area of Georgia wants to compare the variation in the selling price of homes on the oceanfront with those one to three blocks from the ocean. A sample of 21 oceanfront homes sold within the last year revealed the standard deviation of the selling prices was $45,600. A sample of 18 homes, also sold within the last year, that were one to three blocks from the ocean revealed that the standard deviation was $21,330. At the .01 significance level, can we conclude that there is more variation?
Developing the histogram and pie chart for the sample data.
Make use of normal probability distribution features of EXCEL to help determine the probability.
How much variability will you have if you predict sales with this model?
Assuming the population is large, which sample size will give the smallest standard deviation to the statistic and select the numbers for the first five to be interviewed.
Determining probability when guessing answers. Test comprise of multiple- choice questions each having 4 possible answers (a, b, c, d) one of which is right. Suppose that you guess answers to six such questions.
Smaller the p-value in test of hypothesis, the more important the results are.
They were planted in four different locations, so we will consider the field as a second factor because different soil and moisture types can also have an effect on yield. The interaction plot below was obtained.
Make a histogram for the r probability distribution.
Compare among expected monetary approach also expected utility approach. Sketch the brokers utility curve and describe what it says about her risk profile.
Use this information to make a 95% confidence interval to evaluate true average number of copies made each day at this company.
Note that Σ x = 2233 and Σ x 2 = 138,053. At the 5% level of significance, can the instructor conclude that the new mean is different from 64?
Illustrate what amount of sales would be required to be a super savings club member. Elucidate amount of sales would be required to be a gold club status.
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