1.328 b. 2.539 c. 1.325 d. 2.528 ANSWER: a -go to the t-dtistrubution and use α=0.20 or confidence of 80% and use dof=19 3. Read the t statistic from the table of t distributions and circle the correct answer. A one-tailed test (upper tail), a sample size of 18 at a .05 level of significance t = a. 2.12 b.
• Based on the data collected on a typical day, what is the probability that oil change will take 15 minutes or less time? Class Interval Frequency 6 to 10 minutes 3 11 to 15 minutes 8 16 to 20 minutes 6 21 to 25 minutes 2 More than 25 Minutes 1 11/20= 55% chance that the oil change will take 15 minutes or less. • What are the characteristics of standard normal distribution? A standard normal distribution is defined as a normal distribution with the numbers 0 and 1, according to the Statistics for Business and Economics book. •
STAT 533 COURSE PROJECT – PART C Using MINITAB perform the regression and correlation analysis for the data on CREDIT BALANCE (Y) and SIZE (X) by answering the following. 1. Generate a scatterplot for CREDIT BALANCE vs. SIZE, including the graph of the ‘best fit’ line. Interpret.
So, 2000 = 30000/Square root of sample size. Solving for the Square root of sample size, we get Square root of sample size = 30000/2000 = 15. Taking its square, the sample size is found as 225. Chapter 9 Exercise 1 No it is not a good defense. If you choose 40 random employees from the corporation, the standard error would equal 6/Square root of 40 = .95 days.
20. You collect employment in a trade business over 60 months and wish to predict employment for the next 12 months. Because there is an overall curvilinear pattern to the data, you use trend analysis and fit a quadratic trend model. Please input the data in MINITAB and save it as EMPLOY2.MTW: , create, copy and submit a Time Series Graph using the following data Trade Food Metals 322 53.5 44.2 317 53.0 44.3 319 53.2 44.4 323 52.5 43.4 327 53.4 42.8 328 56.5 44.3 325 65.3 44.4 326 70.7
Answer the following questions using your scatterplot and linear regression line: * What is the slope of the linear regression line? M= 0.0647 * What is the Y-intercept of the linear regression line? Y=0.0647(0) + 0.5734=0.5734 * What is the equation of the linear regression line in slope-intercept form? Y=0.0647x + 0.5734 * Based on the linear regression line, what would be an estimated cost of gas in the year 2020? Y=0.0647(20) + 0.5734=1.294 + 0.5734=1.8674 $1.87 * What are the residuals of each year?
What amount should he use when making up his conservative budget? $230 - (you should round down for variable income) EXAMPLE 3: Jeff's variable expenses are $1234 per month. What amount should he use when making up his conservative budget? $1240 - (you should round up for variable expenses) EXAMPLE 4: Jeff's fixed expenses are $1621 per month. What amount should he use when making up his conservative budget?
1. A random sample of size 15 is selected from a normal population. The population standard deviation is unknown. Assume the null hypothesis indicates a two-tailed test and the researcher decided to use the 0.10 significance level. For what values of t will the null hypothesis not be rejected?
Confidence Interval Memo Research and Evaluation I/RES 341 Dr. Richard Stanley August 10, 2008 Confidence Interval Memo Team B is preparing this memo to determine the reliability of the data we collected. We will use the statistical concept of confidence interval to determine the reliability of our research. The probability that a confidence interval includes the true mean of a data set is called the confidence level and commonly expressed as 90%, 95% or 99%. The confidence level is the area under the curve of a sampling distribution that is normal. The rule of thumb is that the number of observations should be greater than 30 to assume a normal, symmetric population without outliers in the data set.
| | | | | * Question 6 0 out of 1 points | | | Figure 1A.1 Refer to Figure 1A.1. The slope of the line between the points where income equals 50 and income equals 200 isAnswer | | | | | Selected Answer: | 10. | Correct Answer: | 5. | | | | | * Question 7 0 out of 1 points | | | Figure 2.1 The production possibilities curve in Figure 2.1 illustrates the