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Probability
1. As a manager, what are some benefits of applying probability concepts to solve business-related problems? Would business decisions suffer without probability concepts?
2. The admission officer at John Doe College checked the Scholastic Aptitude Test (SAT) math scores for all the students admitted in 2013 (mean = 640) and the SAT math scores for all the students admitted in 2014 (mean = 570) and concludes that the students admitted in 2013 had higher average SAT math scores than the students admitted in 2014. Which method did the admission officer employ? Descriptive statistics or inferential statistics?
3. What is the difference between descriptive and inferential statistics? Please give an example for each.
With standard deviation of 15. Test hypothesis that Mrs. Smith and Mrs. Jones are equally effective teachers. Use 0.10 level of significance.
the f.s. supplies company buys calculators from a japanese supplier. the probability of a defective calculator is 20.
a 23nbspfactorial is used by an a process engineer to study the effects of cutting speed a tool geometry b and cutting
a. conduct a simple linear regression analysis of these data in which the average tuition for private colleges is
find the z-score for the number that is less than only 1 of the values of a normal
Let denote the sample mean viewing time. What is the probability the sample mean will be within 0.25 hours of the population mean?
Which of the following assumptions is not made for the F-test for comparing three or more means?
Given CAPM as the benchmark, is either of the two managers over-performing the market? What if you use the Sharpe Ratio as benchmark? Explain the answer carefully.
researchers studied the effects of adding an exercise program to dieting in the achievement of weight loss. a sample of
the amount spent worldwide in advertising on mobile devices can be estimated by fx 0.4x2 0.01x 0.9 where x is the
a major retail clothing store is interested in estimating the difference in mean monthly purchases by customers who use
When n = 250, determine the probability that proportion of couples in sample who are racially or ethnically mixed will be greater than 0.07?
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