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Develop the decision rule assuming that the sample size is 200 parts and the significance level is 0.01.
Construct a scatter plot with this data. Do you observe a trend? If so, what type of trend do you observe?
With 99% confidence, calculate an interval that estimates the true duration of time a visitor would spend on the WGG site.
Why do we need a null hypothesis? What is the difference between statistical significance and practical significance?
How would we know if this data is valid and reliable? and What questions would you ask to find out more about the quality of the data?
State appropriate null (Ho) and alternative (H1) hypotheses. What is the critical value if we work with a significant level a = 0.05? What is the decision rule?
State which statistic you selected. What level of measurement is required for using your selected statistical test?
How much annual payment in the retirement account is needed to accumulate the amount needed to purchase the bond when retiring?
Describe in detail if you observe a linear relationship between the 2 variables - Age and AssessmentValue. Explain the significance of a linear relationship.
What is a random variable? What are the 4 characteristics of a binomial experiment? Can we use a binomial distribution to model this process?
Design a fake advertisement or news story in which you will try to use the statistic in question to make a persuasive point.
Construct and paste a box plot depicting the 5-number summary. Would you prefer to use the mean or the medianas this dataset's measure of central tendency? Why?
What is one instance where you think linear regression would be useful to you in your workplace or chosen major? Describe including why and how it would be used
Create a histogram for the "Sales/SqFt" variable. Is the distribution symmetric? If not, what is the skew? Are there any outliers?
Describe an example from your own personal or professional experiences where you could apply a hypothesis test.
Discuss the concepts of hypothesis testing, including what you are evaluating, when it should be used, and the differences between a one- and a two-tailed test.
What we broadly describe as a quantitative study includes numerical summaries that involve descriptive statistics and inferential statistics.
How appropriate do you think a time-series analysis of graduation rates would be within a research study?
Explain the importance of the data, the relevance of the measure of center to understanding the data, what you find the most interesting about the study.
Find the combination of the weights that minimizes CV of the portfolio. How the CV of the optimal portfolio compares with the CV's of its constituents.
Find the mean, median mode(s), range, standard deviation, and variance of the data. Which measure of central tendency best represents the data? Explain.
Discuss the concept of probability, including the notion of an experiment, outcomes, and sample space. How can each of these be useful to us?
What is the Type I Error? What is the Type II Error? How would these two concepts affect the way people form a null hypothesis versus an alternative hypothesis?
Develop a 24-month pro forma that demonstrates the potential profitability of the new product or service in an income statement.