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What does the confidence level of a confidence interval tell you?
Suppose that a population has mean, µ, and standard deviation, σ. What does the central limit theorem tell us about the distribution of the sample mean?
Government regulations indicate that the total weight of cargo in a certain kind of airplane cannot exceed 310 kg. On a particular day a plane is loaded with 100 boxes of a particular item only. Historically, the weight distribution for the individual boxes of this variety has a mean of 3.2 kg and standard deviation 0.4 kg.
a. Interpret the meaning of the "a mean of 3.2 kg" in terms of repeated samplng.
b. What is the distribution of the sample mean weight for the boxes (give the name of the distribution and appropriate parameter values)?
c. What is the probability that the government regulation is met?
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
Suppose the money supply process is now represented by the following function: where m measures the sensitivity of money supply with respect to the interest rate. (i) Us
Show how the Normal bin width rule can be modi ed if f is skewed or kurtotic. Examine the eff ect of bimodality. Compare your rules to Doane's (1976) extensions of Sturges' rule.
Examples of grouped, simple and frequency distribution data
the president of a certain firm concerned about the safety record of the firms employee sets aside $50 million a year for safety education. the firms accountant believes that more
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
The median, as the name suggests, is the middle value of a series arranged in any of the orders of magnitude i.e. ascending or descending order. As distinct from the arithmetic
For the circuit shown below; Write a KCL equation for Node A, Node B, Node C and Node D. Write a KVL equation for Loop 1, Loop 2 and Loop 3. A simple circ
Sampling Error It is the difference between the value of the actual population parameter and the sample statistic. Samples are used to arrive at conclusions regarding the p
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
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