A point estimation is a sample statistic that gives a good guess about a population parameter. In the same way‚ a point estimate of the mean overpayment is simply a good guess about what the average overpayment for the population is. Investigating all 1‚000 claims and obtaining the overpayment amount for each would either be impractical‚ unfeasible or both. Thus‚ the auditor deems a sample size of 50 claims to be adequate and sufficiently representative of the entire population. The mean overpayment
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Gloria Vandello May 12‚ 2013 How are statistics used in your workplace? Statistics are used in the entire hospital‚ where I work. Before taking this class I didn’t gave it much thought of just how much statistics are being used in every floor. I guess I always believed that the word “statistics” was mainly used in the research department and that is where it should stay since it didn’t seem interesting enough to study. Now that I’m taking this class statistics seem to be all over my work place‚ just
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Business Research and Statistics | Copyright © 2012‚ 2011‚ 2009‚ 2008 by University of Phoenix. All rights reserved. Course Description This course prepares students to apply statistics and probability concepts to business decisions. Students learn important criterion for developing effective research questions‚ including the creation of appropriate sampling populations and instruments. Other topics include descriptive statistics‚ probability concepts
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assigned to find interval estimates for a population mean and a population proportion. b) Is finding an interval estimate an example of inferential or descriptive statistics? Explain. It is an interval estimate is an example of inferential statistics‚ as an estimate of the value of the population parameter is made based on sample statistics. c) An interval estimate (23.8‚ 30.6) is determined for the mean age of NSCC students. Identify the point estimate and the margin of error of the interval estimate
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PROJECT PART B: Hypothesis Testing and Confidence Intervals Math 533 Applied managerial Statistics. Instructor: Mr. Patrick Mayers. April 12‚ 2015 Guillermo H. Quintela. a. The average (mean) sales per week exceeds 41.5 per salesperson. The Null Hypothesis: The average (mean) sales per week is greater than or equal to 41.5 per salesperson. Ho:µ >= 41.5 The alternate Hypothesis: The average (mean) sales per week is less than or equal than 41.5 per salesperson. Ha:µ < 41.5 For a significance
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hypothesis. Draw the one-tail or two- tail test diagram. Step 2: Specify the level of significance. Determine the critical value (s). Step 3: Identify the test statistics to be used and calculate it. Step 4: Draw the conclusion. Formulae List Hypothesis Testing Test Statistics for Single Mean | | Test Statistics for Two Means | known | | 1 and 2 known | z* = x-μ0σn | | z* = x1-x2-δ0σ12n1+σ22n2 | unknown and n > 30 | | 1‚ 2 unknown and n1 n2 2 30 | z* = x-μ0sn
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Copyright © 2013‚ 2012‚ 2011 by University of Phoenix. All rights reserved. Course Description This course integrates applied business research and descriptive statistics. Students will learn to apply business research and descriptive statistics in making better business decisions. Other topics include examination of the role of statistics in research‚ statistical terminology‚ the appropriate use of statistical techniques‚ and interpretation of statistical findings in business and research. Policies
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Assignment #16 Q#s 1‚4‚5 1. Describe the procedure for computing frequencies. Frequencies are commonly used for the initial analysis of a data set. Frequencies provide statistics and graphical displays that are useful for describing all different types of variables. The Frequencies procedure can produce such statistics as: frequencies (counts)‚ percentages‚ cumulative percentages‚ mean‚ median‚ mode‚ sum‚ standard deviation‚ variance‚ range‚ minimum and maximum values‚ standard error of the
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BM0421 Business Research Analysis Student Name: Qiumi Lv Student Number: W14006495 Word Count: 3112 Contents 1. Part 1 (a)………………………………………………………………….........….…...2 2. Part 1 (b)…………………………………………………………………………..…....2 3. Part 1 (c)………………………………………………………………………………...3 1. The Research Method and Questionnaire………………………………..….....3 2. The design decisions……………………………………………………………...3 4. Part 2……………………………………………….……………………………….......5 1. (i)..………………………………………………………………………….….....….5 2. (ii).…………………………………………………………………………
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1. Following the explosion of the 25th space shuttle flight‚ which was caused by an O-ring failure in one or more of the booster rockets‚ data from the previous 24 flights were studied. The Temperature (F) at the time of launch and whether or not there was evidence of O-ring failures for each of the previous 24 shuttle flights was determined for each flight. A logistic regression relating the Failure of O-rings to the Temperature was obtained with the following result: Estimate Std. Error z value Intercept
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