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Jolly Blue Giant Health Insurance (JBGHI) is concerned about rising lab test costs and would like to know what proportion of the positive lab tests for prostate cancer are actually proven correct through subsequent biopsy. JBGHI demands a sample large enough to ensure an error of ± 2% with 90% confidence. What is the necessary sample size?
1) The mean of the twenty male IQ scores is 115. Test the hypothesis that the mean of female IQ scores is less than 115. Note: This test is not comparing the mean IQ of females to that of males, it is simply using 115 as a comparison value. In the..
How large a sample must one take to be 90% confident that the estimate is within 0.05 of the true proportion of women over 55 who are widows?
A Manager needs to decide between two machines to put into market following a Weibull distribution. Machine X test unit cost $3000 with beta=3 and theta=500 Machine Y test unit cost $2000 with beta=3 and theta=400
A sociologist wants to determine if the life expectancy of people in Africa is less than the life expectancy of people in Asia.
Hypothesis test for the difference between two means - To make the data comparable, certain features, such as the deductible amount and limits of liability, are standardized.
In the mid-1990s, Colgate-Palmolive had developed a new toothpaste for the U.S. market, Colgate Total, with an antibacterial ingredient that was already being successfully sold overseas.
From a random sample we know that the average duration of unemployment in a low developed region A is 147 days (with standard deviation sA = 32 days and nA = 230 unemployed).
Does drug have significant effect on aggression? Use an alpha level of .05, two tails.
What maximum variance of the raw score population could you have and still be able to reject the null hypothesis of μ = 20 (α = .05), if the sample size is 100 and the sample mean is 22?
A system consists of five identical components connected in parallel. Determine the reliability of the components such that the system reliabilty is 97%.
Ten members of a fraternity take a statistics course. Here are their scores on the first exam in the course:
A random sample of 81 credit sales in a department store showed an average sale of $68.00. Historically, it is known that the standard deviation of the population is $27.00.
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