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A financial institution wants to explore the relationship between a loan application approval time and the independent variables of annual salary of the applicant and years of employment.
(a) What is the equation of a regression model?
(b) In order to satisfy governmental regulations, the institution wishes to determine if gender has an impact on approval time. What is the model now? What hypothesis would you test to establish no impact of gender?
(c) The institution has three branches and the CEO is interested in determining if there are differences in efficiency as determined by the mean approval time. Write down the model equation. What null hypothesis would you test to address the CEO's concern?
Find out the regression equation Determine the value of Rsquare? Comment on value.
How does the shape of the quantile plot affect your interpretation of the results?
a sample of alzheimers patients is tested to assess the amount of time in stage iv sleep. the number of minutes spent
A teacher claims that the variance on a calculus test is 68. A sample of 28 students had a standard deviation of 5.8. Test the teacher's claim at the 0.05 level of significance.
An insurance company checks police records on 1200 randomly selected auto accidents and notes that teenagers were at the wheel in 180 of them. Construct a 90% confidence interval estimate of the proportion of auto accidents that involve teenage dr..
The sample mean of the number of spots on the 6000 rolls, should be about If this die is rolled 6000 times, the number of times we get a 2 or a 3 should be about
You are testing the null hypothesis that there is no linear relationship between two variables, X and Y. From your sample of n=10, you determine that r=0.80.
A simple random sample of 60 voters will be drawn from this population. The chance the sample contains only Republicans and Democrats is?
Develop a probability distribution for the number of students in the sample who watch soap operas.
The distribution of test scores is mui=35 and a standard deviation of 15. Do students taking the supplement have significantly better memory scores? Use a one-tailed t-test with an alpha=0.05.
The cost of rectifying a nonconforming panel is estimated to be $5. For a shipment of 1000 panels, what is the expected cost of rectification?
Write a Matlab program that simulates m runs of the weekly lottery of Problem 5.5.5. For m = 1000 sample runs, form a histogram for the jackpot J
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