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1. From experience, a manager knows that the commissions earned by her salespeople are very well approximated by a normal distribution. The manager wants to test whether the average commission is $439 per month. A random sample of 100 observations is available. What statistical test is best in this situation? Why?
2. Returns on stock of small ?rms have been shown to be symmetrically distributed, but the distributions are believed to be "long-tailed"-not well approximated by the normal distribution. To test whether the average return on a stock of a small ?rm is equal to 12% per year, what test would you recommend? Why?
The minimum sample size needed in order for the union to be confident that its estimate is within of ? Suppose that the standard deviation of wages of foodservice workers in the U.S. is about .
Discuss how you would investigate the operations of the plant to determine why the proportions were off the targeted values. Speculate on three or more possible conditions in plant and bagging process that could have caused the observed results.
a civil engineer is analyzing the compressive strength of concrete. compressive strength is approximately normally
Summarize what the case is about, and what the variables represent. How would you apply confidence intervals? How would you apply hypothesis testing
The following table summarizes the grades for ten group projects that were completed by two different groups of high school students. Which group of students exhibits the least degree of central tendency about the mean value for their project gra..
At the 5% level of significance, can we infer that the population mean weight of athletic men is lower than the population mean weight of non-athletic men by more than 2 pounds?
A thorough examination reveals that there is nothing wrong with the filling machine. From a statistical standpoint, was there a type error made? If yes, which type? Explain.
the sample mean x bar is the maximum likelihood estimator of sigma if the underlying p.d.f is fxsigma 1sigmae-xsigma
the thickness of eight pads designed for use in aircraft engine mounts are measured. the measurements are 41.83 42.68
Joe Mauer of the Minnesota Twins had the highest batting average in the 2009 Major League Baseball season. His average was .461. So assume the probability of getting a hit is .461 for each time he batted. In a particular game, assume he batted fou..
The first salesperson to find a strong leader will win the account. Do the three salespeople have the same chance of winning the account? If not, find their respective probabilities of winning.
Describe a business situation that you have had or might face that will benefit from the use of confidence intervals?
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