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Descriptive Statistics

Finding the Confidence Interval at 95% Confidence

A sample of 75 information system managers had an average hourly income of $40.75 with a standard deviation of $7.00. What is the 95% confidence interval for the average hourly wage of all information system managers?

Computing the slope of regression line for given data

The following information regarding a dependent variable Y and an independent variable X is provided S = SUM (SX means Sum of x values) SX = 90 S (Y - nar008-1.jpg)(X - nar008-2.jpg) = -156 SY = 340 S (X - nar008-3.jpg)2 = 234 n = 4 S (Y - nar008-4.jpg)2 = 1974 SSR = 104 The slope of the regression equation is

Application of Central Limit Theorem

Random samples of size 81 are taken from an infinite population whose mean and standard deviation are 200 and 18, respectively. The distribution of the population is unknown. The mean and the standard error of the mean are?

Finding the Slope of Regression Line

The following information regarding a dependent variable Y and an independent variable X is provided S = SUM (SX means Sum of x values) SX = 90 S (Y - nar008-1.jpg)(X - nar008-2.jpg) = -156 SY = 340 S (X - nar008-3.jpg)2 = 234 n = 4 S (Y - nar008-4.jpg)2 = 1974 SSR = 104 Find the slope of the regression equati

Calculating sample confidence interval for a population mean

Please see attachment for the data to be used when answering these questions. a. Develop a 95% confidence interval for the mean number of miles driven until transmission failure for the population of automobiles with transmission failure. Provide a managerial interpretation of the interval estimate. b. Discuss the implicat

Implication of Negative Correlation

Assuming a linear relationship between X and Y, if the coefficient of correlation (r) equals - 0.30, a. there is no correlation b. the slope (b1) is negative C. Variable X is larger than variable Y D. The variance of x is negative

Determining the Required Sample Size

An economist is interested in studying the incomes of consumers in a particular region. The population standard deviation is known to be $1,000. A random sample of 50 individuals resulted in an average income of $15,000. What sample size would the economist need to use for a 95% confidence interval if the width of the interval s

Library of Congress

The head librarian at the Library of Congress has asked her assistant for an interval estimate of the mean number of books checked out each day. The assistant provides the following interval estimate: from 740 to 920 books per day. If the head librarian knows that the population standard deviation is 150 books checked out per da

Make use of dummy variable in the regression analysis

First, explain in your own words (no direct quotes, please) what a dummy variable is and its purpose in regression analysis. Secondly, provide an example of where you might use a dummy variable from your own professional experience. Thirdly, briefly describe how you would implement a dummy variable in a data table you intend to

Relationship Between Sampling Mean and Population Mean

Drug manufacturer knows that for a certain antibiotics, the average number of doses ordered for a patient is 20. Steve Simmons, a salesman for the company, after looking at 1 day's prescription orders for the drug in his territory, announced that the sample mean for this drug should be lower. He said, "For any sample, the mean s

Introductory Statistics

Let x be a random variable representing dividend yield of Australian bank stocks. We may assume that x has a normal distribution with f$sigma f$ = 2.8%. A random sample of 16 Australian bank stocks has a sample mean dividend yield of 8.91%. For the entire Australian stock market, the mean dividend yield is f$mu f$ = 6.4%. If

Statistics 2

The marketing manager of a large supermarket chain would like to use shelf space to predict the sales of pet food. For a random sample of 12 similar stores, she gathered the following information regarding the shelf space, in feet, devoted to pet food and the weekly sales in hundreds of dollars. Store 1 2 3 4 5 6 Shelf

Differences in Descriptive and Inferential Statistics

Examine the differences between descriptive and inferential statistics. Address the following items: Describe the functions of statistics. Define descriptive and inferential statistics. Provide at least one example of the relationship between descriptive and inferential statistics.

Norms and Standardized Samples

Please help answer the following question. Provide at least 400 words in the solution. What is the relationship between a standardization sample and test norms?

Correlation Analysis for Birth Rate Variation

1. Data are gathered on 40 countries to study variations in birth rate. Consider an equation derived in the study: where: Y = birth rate per 1,000 population X = per capita income a. Identify the following: the independent and dependent variables the regression coefficient

Patterns in linear regression models

What pattern would you need to decide that the linear regression model is appropriate? What would you do if you found a curvilinear pattern or no pattern at all? Discuss how to calculate the best-fitting line in a scatter plot (regression analysis).

Constructing Graphic Representation of Random Samples

Question 1 To compare commuting times in various locations, independent random samples were obtained from the six cities presented in the "Longest Commute to Work" graphic on page 255 in your textbook. The samples were from workers who commute to work during the 8:00 a.m. rush hour. One-way Travel to Work in Minutes Atlanta Bo

Determining the Number of Trial Runs of a Chemical Process

A production supervisor at a major chemical company wishes to determine whether a new catalyst, catalyst XA-100, increases the mean hourly yield of a chemical process beyond the current mean hourly yield, which is known to be roughly equal to, but no more than, 750 pounds per hour. To test the new catalyst, five trial runs using

Contingency Table Approach and Probability

A laptop computer manufacturer sells a computer with a particular configuration. The manufacturer conducted a study on purchase intentions of consumers for this particular laptop with varying potential attributes. From the study it was found that 45% of consumers wanted a faster processor. 55% wanted a larger screen and 40% want

Probability and Marketing

A local beer company sells two types of beer, a regular brand and a light brand with 30% fewer calories. The company's marketing department follows its traditional strategy of targeting women beer drinkers with light beer and men beer drinkers with regular beer. To test the rationale for this strategy an intern at the company ra

Conduct hypothesis testing for the mean of two populations

Please help to answer questions A-D in the attachment. For questions A and B, would you use the use the t-test two sample assuming equal variances function? If not, what would you use? I'm not sure what the graphical method is to answer question C. What is it and how do you create it? Please show your calculations in exce

Statistics: Normal Probability

Please assist with the following question. Thanks in advance for your help! As players' salaries have increased, the cost of attending baseball games has increased dramatically. The file attached (BBCOST) contains the cost of four tickets, two beers, four soft drinks, four hot dogs, two game programs, two baseball caps, and t

Estimating the mean difference in weight gain

Based on a survey of 1,000 adults by Greenfield Online and reported in a May 2009 USA Today Snapshot, adults 24 years of age and under spend a weekly average of $35 on fast food. If 200 of the adults surveyed were in the age category of 24 and under and they provided a standard deviation of $14.50, construct a 95% confidence int

Hypothesis (Additional Help)

Using the telephone numbers listed in your local directory as your population, randomly obtain 20 samples of size. I have attached these numbers in an excel sheet. From each telephone number identified as a source, take the fourth, fifth, and sixth digits. a. Calculate the mean of the 20 samples b. Draw a histogram showing the