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The mean is analogous to the average value in a data set and is found by dividing the total sum of a data set by the number of values in the set. For example, consider the following data set: Data Set: 4, 5, 7, 7, 9, 11, 15 To calculate the mean, the first step required is to add together all of the values in the data set. Therefore, step one: The total value of the data set = 4+5+7+7+9+11+15 = 58. To find the average, divide the total value of the data set, by the number of values in the data set. Therefore, step two: The mean is 58/(7) = 8.29 (answer has been rounded).

Hypergeometric distribution and normal distribution

1. The random variable x has a hypergeometric distribution, and the population contains 12 items. If you wanted to find the number of defects in a random sample of 3 selected items when the population contains 5 defects, identify the N, n, and r. 2. Using the following probability distribution table of the random variable x,

Paired t test: Hmart and Happy Market

H0: The average price is the same x1=x2 H1: x1 is greater than x2; the average price of Hmart is greater than the average price of Happy Market. Perform the relevant hypothesis test. The excel file contains the relevant data.


1. Given the following data set: X Y XY X2 2 6.1 12.2 4 3 7.3 21.9 9 5 10.4 52 25 5 9.4 47 25 6 10.7 64.2 36 7 12.1 84.7 49 28.0 56.0 282.0 148.0 ™ ANOVA TABLE Source Sum of Squares df Mean Square Regression 24.641 1 24.641 Error .06123 4 .0153 Total 25 5

Constructing a CI for a price index

1i. Construct a 95% confidence interval. = 12 S = 3.19 n = 11 α = .05 = 0.96 A. Determine the t Value: 1. Significance level = .05 2. Degrees of Freedom (df) df = n-1 df = 11 - 1 df = 10 3. Determine the t value from the t Table t value = 2.228 B. 95% confidence interval: ±

Statistics: Measures of central tendency - constructing confidence interval

1.Given the data set Values of X 13,12,9,15,11,16,17,8,12,7,12 A. Calculate the mean. B. Calculate the median. C. Calculate the mode. D. Calculate the range. E. Calculate the variance. F. Calculate the coefficient of variation G. Calculate the coefficient of variation. H. Calculate the standard error of the mean.

Probability Distribution, Mean and Variance

The following problem develop the concept of determining the probability distribution of a random variable and its mean and variance. A fair coin is tossed three times. Describe the sample space Ω. Let X be random variable that denotes the number of heads on the first toss. Describe the probability frequency distribution of

Mean, Standard Deviation, Confidence Intervals

Graduating students in Business Management at many universities are required to take a the MFAT exam. Below is a random sample of results from five sections of the exam. Grades 80 90 91 62 77 a. Compute the mean and the standard deviation of the sample. b. Compute the margin of error at 95% confidence. c. Develop a

Mutual Funds and Mean Price

1) BusinessWeek published information on 283 equity mutual funds (BusinessWeek, January 26, 2004). A sample of 40 of those funds is contained in the data set MutualFund. Use the data set to answer the following questions. a. Develop a point estimate of the proportion of the BusinessWeek equity funds that are load funds.

Applied Statistics for Lean Body Mass and Resting Metabolic Rate

Please see attached excel spreadsheet for data set on lean body mass and resting metabolic rate for 19 individuals. Then, could you help me with the following three questions: 1. Refer to the excel spreadsheet labeled Data for Exercise 3.4. Place the data on an Excel spreadsheet and use the chart wizard to construct a s

Finding Geometric mean

Compute the geometric mean of the following percent increases: 2, 8, 6, 4, 10, 6, 8, and 4.