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TYPE I AND II Errors If a statistical hypothesis is tested, we may get the following four possible cases: The null hypothesis is true and it is accepted; The
Applications of Standard Error Standard Error is used to test whether the difference between the sample statistic and the population parameter is significant or is d
1. Use the concepts of sampling error and z-scores to explain the concept of distribution of sample means. 2. Describe the distribution of sample means shape for samples of n=36
Standard Deviation The main drawback of the deviation measures of dispersion, as discussed earlier, is that the positive and negative deviations cancel out each other. Use of t
Explain the characteristics of business forecasting.
If the test is two-tailed, H1: μ ≠ μ 0 then the test is called two-tailed test and in such a case the critical region lies in both the right and left tails of the sampling distr
Calculation for Continuous Series or Grouped Data = where, m = mid-point of class =
Ten balls are put in 6 slots at random.Then expected total number of balls in the two extreme slots
Choose any published database from the internet or Bethel library (such as those from the Census Bureau or any financial sites). You may opt to use one of the data files provided b
Your organization purchases bottles of a popular commercial solvent for resale. Each bottle is labeled as containing 32 fluid ounces of the solvent. Your cont
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