is higher than the commonly accepted average human temperature of 98.6 degrees Fahrenheit. A simple random statistical sample of 25 people, each of age 21, is selected. The average temperature of the 21 year olds is found to be 98.9 degrees, with standard deviation of 0.6 degrees. The claim being investigated is that the average body temperature of 21 year olds is greater than 98.6 degrees. This corresponds to the statement x ≥ 98.6. The negation of this is that the population average is not greater
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|[pic] |Course Syllabus | | |School of Business | | |QRB/501 Version 2 | |
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hypothesis for a population mean, the corresponding test statistic (not standardized) is the sample mean. For any hypothesis test the general form of the standardized test statistic is given by: Sample Statistic - Hypothesized Value Standard Deviation of Sample Statistic The rationale is that assuming the null hypothesis is true, the sample statistic should be reasonably
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the payoff on a $2 bet. a. Determine the mean and median for the variables winning time and pay off on a $2 bet. Winning Time Mean= 2.03697 Winning Time Median= 2.03642 Pay off Mean= $18.72 Pay off Median= $10.65 b. Determine the range and standard deviation of the variables winning time and payoff. Range Winning Time= 2.07417- 1.9995= 0.07467 Range Payoff= $103.20- 2.30= 100.9 SD Winning Time= 0.0181 SD Payoff= $22.7941 c. Refer to the variable winning margin. What is the level of measurement
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Variables and Probability Distributions 2.1 The Normal Distribution . . . . . . . . . . . . . . . . . . 2.1.1 Statistical Models . . . . . . . . . . . . . . . . . 2.2 Sampling Distributions and the Central Limit Theorem 2.2.1 Distribution of Y . . . . . . . . . . . . . . . . . . 2.3 Other Commonly Used Sampling Distributions . . . . . 2.3.1 Student’s t-Distribution . . . . . . . . . . . . . . 2.3.2 Chi-Square Distribution . . . . . . . . . . . . . . 2.3.3 F -Distribution . . . . . . . . . . . . .
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Correlation Correlation is a statistical technique that can show whether and how strongly pairs of variables are related. For example, height and weight are related; taller people tend to be heavier than shorter people. The relationship isn't perfect. People of the same height vary in weight, and you can easily think of two people you know where the shorter one is heavier than the taller one. Nonetheless, the average weight of people 5'5'' is less than the average weight of people 5'6'', and their
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BA 302 online: Instructions for Midterm, Fall 2015 Window period: Friday, October 16th, 2015, 8 a.m. – Monday October 19th, 11:59 p.m. (I have extended the window period by one day from originally scheduled) Time limit Six hours (you can take the Exam only at one stretch) The test will consist of 17 True/False type (4 points each), 16 Multiple/Choices (7 points each) and 8 Essay Type (15 points each) with a total of 300 points. The Chapters covered are 1, 2, 3, 5, 6, and 7. The topics to focus
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QNT-351 Discussion Question Responses * DQ#1: What is the importance of statistics in business decision making? Describe a business situation where statistics was used in making a decision. 1. Using statistics to evaluate the performance of your business. Taking all factors into account, determine whether you are making or losing money. In addition, determine the trend of your business. For example, determine whether, over time, you are making more or less profit (or loss). Track the share
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13-week Treasury Bill, as well as Fama French Benchmark Factors (Rm-Rf, SMB, HML) of the same time period. The data description is showed in Table 2, I then tested properties of those variables. 1. Normal Distribution The test statistics of histogram presented in Table 2 follows a chi-square distribution with 9 degrees of freedom. The critical value at 5% significance level is 23.6. So the results show that Rm-Rf and SMB are normally distributed; while RACN-Rf and HML are not normally distributed
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population mean when the population standard deviation is unknown; * The confidence interval for the difference between two population means when both population standard deviations are known. * T distribution shares characteristics of normal distriution, such as: bell-shape, symmetric about the mean, mean median or mode are equal to 0 and located in center of distribution. Z interval calculates: * The confidence interval for an unknown population mean when standard deviation is known; * The
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