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What are the statistical definitions for: - Outlier - Bias - How do these terms apply to this example?
Can you think of situations where another one of the measures is more appropriate or relevant?
At the .05 level of significance, can we conclude that those joining Weight Reducers on average will lose less than 10 pounds? Determine the p-value.
MEASURE the concept/construct for Dependent Variables (DV) and how you would define the variable for Independent Variables (IV):
Analyze the effects of an increase in consumer confidence on the following markets. Start with an initial equilibrium in each market.
How can statistical data and comparison reports be used to help verify that the books are in order and transactions have been recorded correctly?
What implications do forecast errors have for the search for ultrasophisticated statistical forecasting model?
When would you use descriptive statistics over inferential statistics? Give a specific scenario and explain your rationale.
What are the most important concepts you have learned construct confidence intervals for a mean?
How would you apply probability concepts, such as confidence intervals and point estimation principles
Very good list of characteristics of good business research. Quite a detailed list for each:
a - What determines an appropriate population? b- What determines adequate sample size?
The probability of a project in your company being under budget, based on historical data, is 60%.
Following the criteria of what makes a good hypothesis, construct a hypothesis for these questions.
You have a network with a critical path A-B-C-D. For our purposes, you are allowed to ignore the other paths through the network.
Develop a decision tree or complete payoff tables to represent the alternatives and outcomes for this problem.
Develop a network drawing for Hill Construction and determine critical path. How long is the project expected to take
Why do we need to take a preliminary sample when determining the size of the sample needed to make the margin of error of a confidence interval equal to E?
If one of these respondents is randomly selected, what is the probability of getting someone who has been in a car accident?
If the teacher calls upon a student to answer a question, what is the probability that the student will be from Kenilworth?
The results are shown below. Find the median number of newspapers sold.
The amount of time (in hours) that Sam studied for an exam on each of the last five days is given below. Find the mean study time.
The distances (in miles) driven in the past week by each of a company's sales representatives are listed below. Find the median distance driven.
What type of measurement scale describes this type of data? - Nominal - Ordinal -Interval - Ratio
To get the best deal on a CD player, Tom called eight appliance stores and asked the cost of a specific model. The prices he was quoted are listed below: