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If an auction house is selling products to risk neutral buyers, which of the types of auction would you recommend? If you are a potential buyer, what might your strategy be? Support your answers using economic analysis learned in this course.
Explain the difference between the null and alternative hypothesis. Which one can be proven in a statistical sense?
Find the 90% confidence interval for the variance and standard deviation of the ages of seniors at oak park college if a sample if 24 students has a standard deviation of 2.3 years.
Based on these findings, can we reject the company's claim that the drug is equally effective for men and women? Use a 0.05 level of significance.
Define or give an example of a hypothetical construct. Explain why operational definitions are needed to define and to measure constructs.
Perform the five-step hypothesis test on the data. - LORA - this is the portion I am responsible for based on using the nonparametric hypothesis testing.
Estimate the true mean price for this particular model with 95% confidence?
The typical homeowner has a utility function equal to the square root of wealth. Will the homeowner retrofit the house, and if so, which insurance policy will the homeowner buy?
Why might driver be tempted not to use seat belt "just on this trip"?
Suppose that in NY State, 35% of voters are Democrats, 30% are Republicans, and 11% are independent. You are conducting a poll by randomly calling registered voters. In your first four calls, what is the probability that you talk to:
Random samples of 25 observations were selected from each of 3 populations. For these data, SSTR= 120 and SSE = 216.
Describe how multiple correlation and/or regression analysis is (or could be) applied in your work or life environments. Define the dependent and independent variables.
The following is the number of minutes to commute from home to work for a group of automobile executives.
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