Math 534 devry - Study guides, Class notes & Summaries

Fifty percent of all technical assistants would like to have a PC. Eightypercent of all technical assistants would like to have MAC. Forty-fivepercentofalltechnicalassistantswouldliketohaveboth.Ifatechnicalassistant is randomly selected, what is the probability that she wouldliketohaveMAC,giventhatshewouldliketohaveaPCaswell? Theprobabilityofoneeventgiventheinformationthatanotherrelatedeventhasoccurredisanexampleof . Iftwoevents,EventAwithprobabilityP(A)andEventBwithprobabilityP(B)areindep...

MATH534WEEK1HOMEWORK Supposeyouareanoperationsmanagerforaplantthatmanufacturesbatteries.Giveanexampleofhowyoucouldusedescriptivestatisticsto make better managerial decisions. Give an example of how youcoulduseinferentialstatisticsto makebetter managerialdecisions.

Week 1 Addendum: Homework/Quiz Review 1. Is each item below an example of descriptive or inferential statistics?  Take a sample of cars and test them to determine how many miles per gallon (mpg) they give. Use this sample to estimate the mpg of all cars. Answer: Inferential  To get an idea of student performance on a test, analyze the data in the gradebook about the test. Answer: Descriptive 2. In each case, identify the type of data (or level of data):  The dollar sales at t...

2. Scoresonacertainexamarenormallydistributedwithameanof90andavarianceof25.99.8 7. AccordingtoanNRFsurveyconductedbyBIGresearch,theaveragefamilyspendsabout $23 8. AccordingtotheAirTransportAssociationofAmerica,theaverageoperatingcostofanMD 10. Selectionofthesamplesbasedontheconvenienceoftheresearcherisanexampleof non random sampling 14. TheAluminumAssociationreportsthattheaverageAmericanuses56.8poundsofalumin 16. Ifreasonablylargesizedsamples(i.e.,samplesof30elementsormore)aredrawnfroma ...

1. Supposearandomsampleof400isselectedfromapopulationwithastandarddeviationof5.Ifthesamplemeanis25,the98%confidenceintervaltoestimate thepopulationmean is between 2. Thepointestimateofthepopulationmeanis 3. Supposearandomsampleof50isdrawnfromapopulationwhosestandarddeviationisunknown.Ifthesamplemeanis70andthesamplestandarddeviationis5,the92%confidenceintervaltoestimatethepopulationmeanisbetween . 4. Supposearesearcherisinterestedinunderstandingthevariationinthe price of store brand milk. A ra...

Week1:StudyandSampleDesign A company makes men's button-up dress shirts and is considering changes to its design. Howmight the company go about finding a good sample of individuals? These decisions wouldincludemethodofsampling,locationofsampling,populationtoconsider,andnumberinsample,in additionto any other considerations.

1. Arandomsampleof100selectedfromapopulationwithastandarddeviation of 10 yielded a mean = 225. The mean and the standarddeviationofthedistributionofthesamplemeansare . 2. Suppose a random sample of 49 is selected from a population ofsize N = 500 with a standard deviation of 14. If the sample mean is125,the99%confidenceintervaltoestimatethepopulationmeanisbetween . 3. A manufacturer wants to purchase a certain product of foil. The foilisstoredon1534rollseachcontainingavaryingamountoffoilwithast...

1. In a hypothesis test,the test statistic computed from the sample data is considered extreme or significant if it is . 2. Atestofthehypotheses,H0:p=0.18andH1:p≠0.18isa 3. Ananalysttestedthenullhypothesisµ≥30againstthealternativehypothesis that µ <30. The analyst reported a p-value of 0.07. Forwhatsignificancelevelofαwill the nullhypothesis wouldberejected?

2 Determine the Pearson product-moment correlation coefficient for the following data.x 3 Given a set of paired data,{X,Y},if Y is independent of X , you would expect that the correlation

MATH 534 Week 7 Homework Problems 1. A real estate analyst this develop da multiple regression line 2. Thefollowingisapartialcomputeroutputofamultipleregressionanalysis of a data set containing 20 sets of observations on thedependentvariable 3. Acostaccountantisdevelopingaregressionmodeltopredictthetotal cost of producing a batch of printed circuit boards as a linearfunctionofbatchsize (the numberof boardsproducedinonelotorbatch), production plant (Kingsland, and Yorktown), and producti...