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When computing a t-test, it is important to distinguish between directional and nondirectional hypotheses as the direction will determine the rejection regions. Describe how the rejection regions would differ according to the type of hypothesis you would use.
An insurance company asks you to determine whether older drivers are safer than younger ones. Provide a directional hypothesis related to this study. Then, explain how you would need to change the hypothesis so that it would be nondirectional. What happens to the rejection regions and why? Which of the two hypotheses do you think is more appropriate and why?
A company sampled 40 of the springs that it manufactures for use in small engines and discovered that 20% of the springs did not meet specifications.
Explain the difference between testing a single mean and testing the difference between two means. What two assumptions must be met when one is using z test to test differences between two means?
You are given the choice of three doors. Behind one is a new car and the others hide a barnyard animal for you to keep. After you choose door number one, your host (Monty) opens door three to reveal a goat.
A company that manufactures computer chips wants to use a multiple regression model to study the effect that different variables have on y, the total daily production cost
The length of a Colorado brook trout is normally distributed. What is the probability that a brook trout's length, (Round your answers to 4 decimal places.)
It has been determined that the mean life is 1000 hours and the standard deviation is 50 hours. It can be concluded that at least 89% of the bulbs will last between?
when a decision problem under risk or uncertainty involves multiple objectives what solution approaches are
during the past six months 73.2 of us households purchased sugar. assume that these expenditures are approximately
The State Department of education requires local school districts to keep records on all students within their district. Determine if the following items are categorical or numeric variables.
Fitting of simple linear equation - Prepare an equation showing how daily sales are related to number of customers per day.
At a 5% level of significance, is there evidence to conclude that the mean life is different from 375 hours?
Discuss how graphical representations can be used to display data in a meaningful way. Choose a specific business application and describe an example of a specific graph or chart that can be used to interpret data and why it is so useful.
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