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A new weight-watching company, Weight Reducers International, advertises that those who join will lose, on the average, 10 pounds the first two weeks with a standard deviation of 2.8 pounds. A random sample of 50 people who joined the new weight reduction program revealed the mean loss to be 9 pounds. At the .05 level of significance, can we conclude that those joining Weight Reducers on average will lose less than 10 pounds? Determine the p-value.
Prediction Inte rval We would like to construct a prediction interval around which would contain the actual Y. If n ≥ 30, ± Zs e would be the interval, where Z
Simulation When decisions are to be taken under conditions of uncertainty, simulation can be used. Simulation as a quantitative method requires the setting up of a mathematical
prove standard deviation of natural natural numbers
Deviation Measures The drawback of the range as a measure of dispersion is that it takes into account the values of only two data points - the largest and the smallest. One
types of sampling method
The following are the various types of common averages used in statistical analysis given in the form of a chart. Figure 1
Risk of Portfolios So far, we have seen the application of standard deviation in the context of risk in single investment. But usually most investors hold portfolios of securi
Consider the following game: (a) If (top, left) is a Weakly Dominant Strategy Equilibrium, then what inequalities must hold among (a, ..., h)? (b) If (top, left) is a Na
Statistics Can Lead to Errors The use of statistics can often lead to wrong conclusions or wrong estimates. For example, we may want to find out the average savings by i
Purposive or Judgement Sampling Under this method of sampling, the choice of selection of sample items from the universe depends exclusively on the judgement of the investi
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