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At the .05 level of significance, can we conclude that those joining Weight Reducers on average will lose less than 10 pounds? Determine the p-value.
Why do you need to make a distinction between independent and dependent variables? When do you think that the distinction is particularly relevant? Please consider a business related example to disc
Confronted by low productivity, the president of Oaks Inc. asks a research company to study job satisfaction in the corporation. What are some of the important reasons that this research project may
What are the elements of a decision? How does statistical decision theory differ in conditions of certainty and uncertainty? When making a decision, can doing nothing be a valid alternative? Why?
Do you think that it is possible to make a decision with one-hundred percent certainty? What are possible elements you may consider before making a business decision so that you can minimize uncerta
How can statistical data and comparison reports be used to help verify that the books are in order and transactions have been recorded correctly?
Do you consider yourself a risk taker, risk-neutral, or risk avoider? Does your behavior vary depending on the situation or has it changed over time? How does your perception of probabilities contri
How can the concept of variance and standard deviation be applied to solving a real world business-related problem? Include a specific example from business. Explain.
- What are the most important concepts you have learned construct confidence intervals for a mean? - What would you recommend to your management/leadership based on construct confidence intervals for
How would you apply probability concepts, such as confidence intervals and point estimation principles, to make sound business decisions where there are conditions of uncertainty (risk).
Please define for sampling and explain the relationships among them: a) Reliability b) Validity c) Accuracy d) Precision.
a) How do we Test the mean difference in scores for public versus private universities (as independent samples) b) How do we test the mean difference in scores for public versus private universities (
Discussion of key statistics provided by sources like yahoo finance. Also, recommendation regarding the future of this corporation. Is the stock a good buy, average buy or poor buy. Include justific
(a) Is inquiry the best way to test the control? If yes, why? If no, why not? (b)Will inquiry provide sufficient audit evidence? Explain.
Why do we need to take a preliminary sample when determining the size of the sample needed to make the margin of error of a confidence interval equal to E?
An employee appraisal form lists performance ratings as "exceeds expectations", "meets expectations", and "below expectations." What type of measurement scale describes this type of data?
Describe the rationale for utilizing probability concepts. Is there more than one type of probability? If so, describe the different types of probability.
Is there a weak or strong, positive or negative correlation between hours studied and final exam scores?
You expect the price of the stock 3 years from now to be $37.98. Discounted at a 13% rate, what is the present value of this expected future stock price? In other words, calculate the PV of $37.98.
Question 1. What is statistical process control? Question 2. How can Statistical Process Control methods help to minimize errors?
What are the implications of statistical variation? Why are we interested in understanding and measuring variation?
A candy company claims that 17% of its plain candies are orange, and a sample of 100 such candies is randomly selected. a. Find the mean and standard deviation for the number of orange candies in such
Find the mean and standard deviation for the number of times this letter will be found on a typical page of 1800 characters.
a) What is the mean of the probability distribution (Round to two decimal places as needed) ________. b) What is the standard deviation of the probability distribution (Round to two decimal places as
Recalculate the range, quartile deviation and standard deviation, and comment on the changes to these statistics. You are also required to create a scatter graph and a histogram from the initial dat