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1. What is meant by a designed experiment?
2. "A factor level is the same as a treatment." Is this statement always true? If not, what conditions are necessary for it to be true?
how many individuals will I need to sample if I want a 95% margin of error to be no more than 3%, I want to know if the results are significant at = 10%. With the information given.
Fix-It Copiers advertises mean time of 100 minutes for office calls with standard deviation of 25 minutes. What percentages of calls are completed?
1. State the null hypothesis and the alternative hypothesis. 2. Compute the value of the test statistic. 3. Compute the observed significance of the test. 4. Which of the following is the correct decision regarding the null hypothesis at 1% significa..
Distinct random variable
What is the linear programming model for this problem?
The width of a 95% confidence interval for µ is 10 units.- If everything else stays the same, how wide would a 90% confidence interval be for µ?
(a) Compute a point estimate for difference in average talktime of battery A and battery B. (b) Test whether the battery produced by A results in longer talktime, on average, than battery produced by B. Choose level = 5%.
Suppose you are given the average pay of all working people in each of the 50 states of the United States. Do you think that the sample mean of the averages for the 50 states will equal the value given for the entire United States?
Pierre has a utility function for total asset position of u(x)=ln(x), His assets currently consist of $50,000 in cash and a rare violin he inherited from a rich uncle which is valued at $100,000.
Describe the role of statistics in business decision-making
1. For the period 1998-2008, McDonald's Corpora- tion paid the following dividends (rounded to nearest penny) per share of common stock. Source: McDonald's Corporation, 2005 Annual Report, p. 1; 2008 Annual Report, p. 19.
discuss the various sampling methods we might use in determining which items to include in a
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