analyze if the process improvements that have been put in place have had a positive impact to the patients and staff. Before changing the process flow the business office observed the current workflow to establish the current confidence interval. The observations were random including both peak and non peak service times. In addition, the same amounts of observations were made on each day of the work week. In total 25 observations were performed with the time noted for each case. The
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distributions, and its most important variations. * Week 4 – Confidence intervals and sample size determinations, and their most important variations. * Week 5 – Hypothesis testing: includes the 5-step hypothesis testing procedure, applied to means and proportions, and its most important variations. * Week 6 – Simple linear regression: includes interpreting Minitab output for point estimates, hypothesis tests, and confidence intervals. * Week 7 – Multiple regression: includes the same elements
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so it cannot be used in bootstrapping. 2. The following bootstrap output is for mileage of a random sample of 25 mustang cars. Based on a 90% confidence interval, which of the following would not be a plausible value of the population mean, µ? Explain why it wouldn’t be. a) 60.01 b) 80.01 c) 55 d) 52 Based on the 90% confidence interval, the values are between 5th percentile and 95th percentile, which are between 52.096 and 80.012 3. Which of the following p-values would provide
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28 14.8 9 14.8 19 15.8 29 14.8 10 15.2 20 14.5 30 14.6 Write a two to three (2-3) page report in which you: 1. Calculate the mean, median, and standard deviation for ounces in the bottles. 2. Construct a 95% Confidence Interval for the ounces in the bottles. 3. Conduct a hypothesis test to verify if the claim that a bottle contains less than sixteen (16) ounces is supported. Clearly state the logic of your test, the calculations, and the conclusion of your test.
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deviation. The results are defined in the following Excel image. 2. My next task is to construct a 95% confidence interval for the ounces in the bottles. The population mean (µ) is the parameter that I will be using for this equation. From the random sample, the value of µ is x=14.92 The confidence level of the based on this sample will be constructed to capture the µ with 95% confidence. The sample size is n=30 and the population standard deviation is 0.55. According to the central limit
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| 9 | 14.8 | 19 | 15.8 | 29 | 14.8 | 10 | 15.2 | 20 | 14.5 | 30 | 14.6 | Write a two to three (2-3) page report in which you: 1. Calculate the mean, median, and standard deviation for ounces in the bottles. 2. Construct a 95% Confidence Interval for the ounces in the bottles. 3. Conduct a hypothesis test to verify if the claim that a bottle contains less than sixteen (16) ounces is supported. Clearly state the logic of your test, the calculations, and the conclusion of your test
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has dropped below the past noted 25%. To do this, we will find the confidence interval, as well as test to see if the 25% is reasonable. With 100 ingots, we have determined that with 90% confidence, between 17.8% and 32.1% will have cracks. This is in line with the company’s estimate of 25%, and after testing, it is determined that this hypothesis will not be rejected. With 1000 ingots, we have determined that with 90% confidence, between 22.7% and 27.2% will have cracks. This is also in line with
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The infamous company, Jordan & Associates, is in trouble again. The Deputy Director has just resigned in the midst of rumors going around the departments about discrimination, lawsuits, and even the company picnic has been canceled. I would like to seek your help in putting together an Ad hoc Statistics Report to be submitted to the CEO so that he can make the appropriate corrective, proactive, and retroactive decisions for the troubled company. The Report Format As you might have
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UNCERTAINTY AND DECISION MAKING In many countries, the majority of the consumers pay a fixed price per unit of electricity used regardless of when their consumption occurs. However, the costs to produce electricity vary a lot at different times of the day. Electricity cannot be stored. It must be generated and supplied to each customer as it is called for instantly, day or night, in extremely variable quantities. In virtually all power systems, electricity is produced by generators that are dispatched
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Operational Risk measurement This is defined as “the risk of loss resulting from inadequate or failed internal processes, people and systems or from external events. This includes legal risk, but excludes strategic and reputation risk”.9 Such risks are likely to be significant in Islamic Banks due to specific contractual features and the general legal environment. Specific aspects that could raise operational risks in Islamic banks include the following: (1) The cancellation risks
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