Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Statistics and Probability Expert

1. Describe, briefly, your observational study or experiment and state your hypotheses. What do you think is the correlation of the variables and why.

2. Select a well-designed sample of at least 30 units. (Describe the population to be studied and the sampling frame). Two variables should be measured with a potential for correlation; if you measure more than two variables, you must correlate two at a time. Pay particular attention for any lurking variables. If you are doing an experiment make sure there is a control group.

3.Care must be taken in the collection of the data. Avoid sampling and non-sampling errors. If working with subjects (people, that is), be careful with the wording of your problems. If you are using secondary data, don't forget to document the sources.

4.Give descriptive statistics for each single variable. At a minimum you should include the mean, median, mode, standard deviation, and five-number summary. A frequency table as well as a histogram should be included for each numerical variable.

5.Correlation analysis should include a scatterplot and the line of best fit (linear regression). Give the correlation coefficient as well as .

6.Draw your conclusions or inferences. describe the strength of the association. Be careful not to conclude more than your correlation analysis allows; that is, do not make any statements not supported by your data. How confident are you about your inferences?

Statistics and Probability, Statistics

  • Category:- Statistics and Probability
  • Reference No.:- M944364

Have any Question?


Related Questions in Statistics and Probability

How does a market-maker decide the edge offset required to

How does a market-maker decide the edge (offset) required to perform an options trade? Explain why this edge would be different for options of different strikes as well as for option combinations?

How would i calculate this to get the probability if a

How would I calculate this to get the probability. If a person bought 1 share of Google stock within the last year, what is the probability that the stock on that day closed at less than the mean for that year? Hint: You ...

What is the annual yield to maturity ytm of a 10-year bond

What is the annual yield to maturity (YTM) of a 10-year bond, $1000 par, 8% coupon paid semi-annually, currently selling for $975?

You work in the quality control office for a company that

You work in the quality control office for a company that manufactures fluorescent light bulbs. Your company offers a 4-year (1461 day) warranty on these bulbs. The average life span of your bulbs is 1600 days with a sta ...

If we are interested in job satisfactionname a variable

If we are interested in job satisfaction. Name a variable that correlates with job satisfaction but we do not have causation. Name a variable that you believe may have a casual relationship with job satisfaction. Name a ...

Prior data indicates if a planter machine is operating

Prior data indicates if a planter machine is operating "properly," the length of the planter produced by the machine can be modeled as being normally distributed with a mean of 107 centimeters and a standard deviation of ...

1 it appears that new car purchases have peaked in 2018 vs

1) It appears that new car purchases have peaked in 2018 vs. used car purchases. The following probability distribution table shows the random variable x, where x is the number of new cars purchased by household during t ...

Perform a conversion to compare costs between the two

Perform a conversion to compare costs between the two programs below, to find out which is the more expensive program. Program A: estimated cost in constant FY13 dollars: $16M Program B: estimated cost in constant FY19 d ...

The waiting time for a pizza order is supposed to be no

The Waiting time for a Pizza order is supposed to be no more than 10 minutes. Some complaints have been received that the orders are in fact taking longer than the claimed 10 minutes. A batch of 50 orders was timed and f ...

Illustrate the difference between straight and cumulative

Illustrate the difference between straight and cumulative voting systems using as an example a shareholder who owns 5,000 shares and an election in which six directors will be selected. Why might shareholders care about ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As