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Home >> Statistics and Probability
1. Why do we use hypothesis testing?
2. What is a test statistic and how is it related to a critical value in hypothesis testing?
3. What is the critical region in hypothesis testing and why is it important?
Statistics and Probability, Statistics
?A sample of 100 people is classified by gender (male/female) and by whether they are registered voters. The sample consists of 80 females and 20 males, and has a total of 60 registered voters. If these data are used for ...
Most analysts focus on the cost of tuition as the way to measure the cost of a college education. But incidentals, such as textbook costs, are rarely considered. A researcher at Drummand University wishes to estimate the ...
Why is it that some people make very high returns on the stock market if it is so efficient? Is it more difficult to reconcile very high returns with efficient markets if the same people make extraordinary returns year a ...
The critical boundaries (Zcrit) for a hypothesis test are z = +1.96 and z = -1.96. If the z-score for the sample data is z = -1.90, then what is the correct statistical decision? A) Reject H1 B) Fail to reject H1 C) Re ...
Consider a borrower that is approved for a standard 10-year, fully amortizing house mortgage with an original balance of $500,000 and a note rate(annual interest rate) of 4.8% (Standard refers to a fixed rate mortgage co ...
A researcher working at a particular company wants to know if workers' health would improve if they were given extra days 'off. In this company, all workers undergo a standard physical exam twice a year and after each ex ...
A representative from your company visited a prison and sampled 500 prisoners in Kailil, concluding that 90 of them are political prisoners. The Test hypothesis, at the 5% significance level, that one third of the prison ...
A community hospital wants to estimate the body mass index (BMI) of its local population. To estimate the BMI with an error of at most 0.5 at a 95% confidence level, what sample size should they use? The standard deviati ...
1. For a normal distribution with μ = 500 and σ = 100, a. What is the percentile rank for X = 550? b. What is the percentile rank for X = 650? c. What is the percentile rank for X = 450? 2. For a normal distribution with ...
The monthly utility bills in a city are normally distributed with a mean of $121 and a standard deviation of $23. Find the probability that a randomly selected utility bill is between $115 and $130. Probability of 0.07 a ...
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