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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?
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
If the sample size is less than 30, then we need to make the assumption that X (the volume of liquid in any cup) is normally distributed. This forces (the mean volume in the sam
The file Midterm Data.xls has a tab labeled "Many vs. S&P" which presents historical price data for several assets, a volatility condition (VIDX = 1 if the NYSE volatility is grea
In New Jersey, banks have been charged with withdrawing from counties having a high percentage of minorities. To substantiate this charge, data is presented in the table below conc
Create the Venn diagram: A - you work for an insurance company. 80% of your company's staff is sales force and 70% of your company's sales is force is male. in your company
Make a decision about the given claim. Do not use any formal procedures and exact calculation. Use only the rare event rule. Claim: A coin favors head when tossed, and there
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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
Admixture in human populations The inter-breeding amongst the two or more populations which were previously isolated from each other for the geographical or the cultural reason
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