RESEARCH METHODOLOGY LESSON 20: PRINCIPLE OF HYPOTHESIS TESTING So far we have talked about estimating a confidence interval along with the probability (the confidence level) that the true population statistic lies within this interval under repeated sampling. We now examine the principles of statistical inference to hypotheses testing. By the end of this chapter you should be able to • Understand what is hypothesis testing • Examine issues relating to the determination of level of How is this
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Statistics – Case Chapter 9 1. It is not proper to multiply the average order size by the number of addresses (1.3 million people = population) in the target mailing because the sample is representative of the 600‚000 people in the database‚ not the 1.3 million target population‚ thus you cannot use the average of the sample as an estimate for the population. Also‚ multiplying by 1.3 million would suggest that the entire 1.3 million people would be purchasing. 2. It is better to multiply the endpoints
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percentage of people in the fifty states and District of Columbia who do not have health insurance? Median: 13.50 Round your answer to 2 decimal places as necessary.c. What is the standard deviation of the percentage of people in the fifty states and District of Columbia who do not have health insurance?Standard deviation: 4.10 Round your answer to 2 decimal places as necessary. Answer Key: 14.15‚ 13.50‚ 3.96|4.16 | Question 2 of 17 | 1.0 Points | The worksheet “Insurance” in the Excel workbook
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Review Questions for the Midterm Exam Part I. All the Homeworks and Quizzes (50% of the Midterm Exam) Part II. Additional Review Questions 1. Which of the following statements is correct? a) The range is a measure of central tendency. b) The median is a measure of dispersion. c) For a symmetric distribution‚ the mean is equal to the median. d) For a skewed distribution‚ the variance is a negative number. e) The variance is a measure of central tendency. 2. After
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directly Italy. An American distributor stops by every four weeks to take orders. Because the orders are shipped directly from Italy‚ they take three weeks to arrive. Charlie’s Pizza uses an average of 150 pounds of pepperoni each week‚ with a standard deviation of 30 pounds. Charlie’s prides itself on offering only the best¬ quality ingredients and a high level of service‚ so it wants to ensure a 98% probability of not stocking out on pepperoni. Assume that the sales representative just walked
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inflection points located? Where the slope starts to drop off at. 2. What is the standard normal distribution? A standard Normal distribution is a Normal curve with a mean of 0 and a standard deviation of 1. 3. What information does the standard normal table give? The area that falls to the left of the given z-score. 4. How do you use the standard normal table (Table A) to find the area under the standard normal curve to the left of a given z-value? Draw a sketch. Locate the z-score to the
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7) Data from a small bookstore are shown in the accompanying table. The manager wants to predict Sales from Number of Sales People Working. Number of sales people working | Sales (in $1000) | 4 | 12 | 5 | 13 | 8 | 15 | 10 | 16 | 12 | 20 | 12 | 22 | 14 | 22 | 16 | 25 | 18 | 25 | 20 | 28 | x=11.9 | y=19.8 | SD(x)=5.30 | SD(y)=5.53 | a) Find the slope estimate‚ b1. Use technology or the formula below to find the slope. b1=rsysx Enter x‚y Data in TI-84 under STAT > STAT
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Instructions for Efficient-Frontier Construction a. Estimation The goal is to obtain the raw ingredients – expected returns‚ standard deviations and correlations. Historical data are used for this purpose. As a rule of thumb‚ five years of daily data are probably right (one year should be the absolute minimum). Keep in mind the following: 1) make sure to use the adjusted close prices to calculate returns (so that you won’t have large‚ spurious negative returns due to dividend payments or splits)
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MA 116 - Chapter 9 review Name___________________________________ SHORT ANSWER. Write the word or phrase that best completes each statement or answers the question. A hypothesis test is to be performed. Determine the null and alternative hypotheses. 1) A manufacturer claims that the mean amount of juice in its 16 ounce bottles is 16.1 ounces. A consumer advocacy group wants to perform a hypothesis test to determine whether the mean amount is actually less than this. Classify the hypothesis test
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For the standard normal probability distribution‚ the area to the left of the mean is a. –0.5 c. any value between 0 to 1 b. 0.5 d. 1 Answer: B The total area under the curve is 1. The area on the left is the half of 1 which is 0.5. ____ 2. Which of the following is not a characteristic of the normal probability distribution? a. The mean and median are equal b. The mean of the distribution can be negative‚ zero‚ or positive c. The distribution is symmetrical d. The standard deviation
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