Approximatioon of the sampling distribution
Desrcribe situations where a normal distribution provides a good approximatioon of the sampling distribution of the mean?
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Consider the following simple model for daily changes in the price of a stock. Suppose that on each day, the price either go up $1 with probability 0.55 or goes down $1 with probability 0.45. Suppose the price at the beginning of day 1 is $20. Let
Given the following sample data: 104, 110, 114, 97, 105, 113, 106, 101, 100, 107. Give a point estimate of the population variance s2.
We are supposing that the proportion of all adults who think that two children is ideal is p=0.52. What is the probability that a sample proportion falls between 0.49 and 0.55(that is, within + or - 3 percentage points of the true p) if the sample
The null hypothesis is to be tested at the 1% level of significance. Determine the critical value from the table.
How would you explain the analysis of variance, assuming that your audience has not had a statistics class before?
What is the final task after completing the analysis of significant results? Why is the size effect useful at this stage?
In an inertia welding experiment, a sample of 50 welds were tested. The sample mean and sample standard deviation of the breaking strengths of these welds were found to be 94 ksi (thousand pounds per square inch) and 3 ksi, respectively.
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