Math534 Study guides, Class notes & Summaries

1. Question: A random sample of 100 selected from a population with a standard deviation of 10 yielded a mean = 225. The mean and the standard deviation of the distribution of the sample means are __________. 2. Question: Suppose a random sample of 49 is selected from a population of size N = 500 with a standard deviation of 14. If the sample mean is 125, the 99% confidence interval to estimate the population mean is between ____________. 3. Question: A manufacturer wants to purchase a certain...

MATH 534 Week 7 Discussion Predictive Analytics Predictive analytics in business is an important application of multiple regression analysis.Generallyspeaking,whatismeantbypredictiveanalytics?Asabusinessowner,howcouldyouuseregressionanalysisand predictive analyticsto increase your company'ssales?

MATH534 Final Exam Solution’s Study Guide1. The following numbers represent the weights in pounds of six 7-year old children in Mrs. Jones' second grade class (25, 60, 51, 47, 49, 45). Find the mean, median, mode, variance, and standard deviation. Solution: This would be a sample from the class mean = 46.166 (=AVERAGE) median = 48 (=MEDIAN) mode does not exist (looking at the data) variance = 134.5667 (=VARIANCE.S) standard deviation =11.60029 (=STDEV.S) These can also be found using...

Week2:ChangingProbabilitiesintoConditionalProbabilities Describe a situationwhere youseeprobabilities or might see probabilities.Thenpresent this probability as a conditional probability. In response, other students canmake assumptions about the conditional probability table that could accompany such asituationandposeaquestionforaspecificprobability.Finally,athirdstudentcanshowthe work of solving the probability. Your first post should start a new probabilitydiscussiononly!

1. Question: In a hypothesis test, the test statistic computed from the sample data is considered extreme or significant if it is __________ 2. Question: A test of the hypotheses, H0: p = 0.18 and H1: p ≠ 0.18 is a _______________. 3. Question: An analyst tested the null hypothesis µ ≥ 30 against the alternative hypothesis that µ < 30. The analyst reported a p-value of 0.07. For what significance level of α will the null hypothesis would be rejected? 4. Question: The dean of a busi...

1. Question: In hypothesis testing the statistical conclusion is either to reject or not to reject the null hypothesis based on the sample data. Which of the following statements is true? 2. Question: If a company wants to prove that the proportion (p) of its revenues from overseas operations is more than 18%, the null and alternate hypotheses are __________. 3. Question: A test of the hypotheses, H0: p = 0.18 and H1: p > 0.18 is a _____________. 4. Question: The dean of a business school ...

Week5:HypothesisTesting For this discussion, create and post a 1-2 minute video describing a real-world example of whenahypothesistestcouldbeused.Yourvideoshouldalsoincludeanumericalexampleforanotherstudent to work through in their response. The example can use real data or data that you makeup, such as values for the mean, standard deviation, and sample size. Be sure to note if thestandard deviation is from the population or the sample.In your responses to other students,showtheworkand describ...

Consider when businesses might use confidence intervals to estimate values, such asin sales projections, marketing results, and so forth. Describe a business decision thatcould be helped with confidence intervals. Be specific! Then create a problem withnumbers from which another student could calculate a confidence interval and make adecision.

1. Question: Is each item below an example of descriptive or inferential statistics? 2. Question: In each case, identify the type of data (or level of data): 3. Question: For the following frequency distribution: 4. Question: Assuming that the dataset 17, 15, 3, 22, 11, 7, 9 is a sample. 5. Question: The amount of time it takes a person to get ready for work has a bell shaped distribution. The average is 45 minutes and the standard deviation is 10 minutes. 6. Question: The range of a given ...

MATH 534 Week 6 Discussion Regression Analysis Suppose you are given data from a survey showing the IQ of each person interviewed and the IQof his or her mother. That is all the information that you have. Your boss has asked you to puttogether a report showing the relationship between these two variables. What could you present,and why?