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Question Following the general methodology used by econometricians as explained in the session for week 1 (eight steps), explain how you would proceed to determine if a good com
The quick method for a confidence interval for a proportion uses as an approximation for a 95% confidence interval. The margin of error in this case is slightly larger tha
The Case Study included information about the price for a full meal before and after the law change (in dollars). Of interest is whether the differences in price for a full meal b
Find the minimum constant workforce: ABC Company, a manufacturer of roofing supplies, has developed monthly forecasts for roofing tiles. The forecasted demand and the expected
Convenience Sampling It means a convenient sample is obtained by selecting convents units from the universe. Convenient sample is also known as chunk. It means a fraction of
Use only the rare event rule, and make subjective estimates to determine whether events are likely. For example, if the claim is that a coin favors heads and sample results consis
Consider the following new business venture. An agent is considering investment in one of three real estate parcels: • Option 1: multiunit rentals • Option 2: commercial building
I would like to know what the appropriate statistical test is for investigating an association between a nominal variable and an ordinal variable assuming normal distribution? It''
Accident proneness A personal psychological issue which affects the individual's probability of suffering the accident. The concept has been studied statistically under the num
Question: (a) A normal distribution is thought to have a mean of 50. A random sample of 100 gave a mean of 52.6 and a standard deviation of 14.5. A significance test was carri
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