Questions
What is the purpose of two confidence intervals and please give an example

What is the purpose of two confidence intervals and please give an example

In: Statistics and Probability

In what follows use any of the following tests/procedures: Regression, confidence intervals, one-sided t-test, or two-sided...

In what follows use any of the following tests/procedures: Regression, confidence intervals, one-sided t-test, or two-sided t-test. All the procedures should be done with 5% P-value or 95% confidence interval. Open Brain data. Claim: Male and female subjects have different total (brain) surface areas. 9. What test/procedure did you perform? a. One-sided t-test b. Regression c. Two-sided t-test d. ​​Confidence interval 10. What is the P-value/margin of error? a. 0.450365624 b. 1.10877E-11 c. 0.435460528 d. 0.900731248 e. ​​None of these 11. Statistical interpretation a. The 95% confidence interval does not contain the averages. b. Since P-value is too large we cannot conclude that the two variables have different averages. c. Since P-value is too large we cannot claim that there is connection between two variables. d. Since P-value is small we can claim that there is connection between two variables. e. None of these 12. Conclusion a. Yes, I am confident that the averages are different. b. No, I cannot claim that the average are different.

In: Statistics and Probability

Let Y = ex where X is normally distributed with μ = 1.2 and σ =...

Let Y = ex where X is normally distributed with μ = 1.2 and σ = 0.5. Compute the following values. [You may find it useful to reference the z table.]

a. Compute P(Y ≤ 9.6). (Round your intermediate calculations to at least 4 decimal places, “z” value to 2 decimal places, and final answer to 4 decimal places.)


b. Compute P(8.4 < Y < 9.7). (Leave no cells blank - be certain to enter "0" wherever required. Round your intermediate calculations to at least 4 decimal places, “z” value to 2 decimal places, and final answer to 4 decimal places.)


c.
Compute the 70th percentile of Y. (Round your intermediate calculations to at least 4 decimal places, “z” value to 3 decimal places, and final answer to the nearest whole number.)

In: Statistics and Probability

Suppose μ1 and μ2 are true mean, for An experiment resulted in the following data: System...

Suppose μ1 and μ2 are true mean, for An experiment resulted in the following data:

System 1: m = 6, Xbar= 115.7, s1= 5.03;

System 2: n = 6, Ybar=129.3, s2= 5.38.

Use the two-sample t test at significance level 0.01 to test H0: μ1- μ2= -10 versus Ha: H0: μ1- μ2 < -10. You can use either critical value or p-value to reach to a conclusion.

Please be as detailed as possible and list any assumptions made. Thank you very much!

In: Statistics and Probability

CHAPTER 2-3 2.14 A construction job is comprised of two tasks, which we will call ''task...

CHAPTER 2-3

2.14

A construction job is comprised of two tasks, which we will call ''task A" and "task B." The two tasks are initiated simultaneously and their completion times are uncertain. The entire construction job is completed as soon as both tasks are completed. The possible outcomes for the completion times of task A and task B, and the associated probabilities, are given in Table 2.28.

TABLE 2.28 Probabilities of time to completion of tasks A and B.

Time to Complete Task A
(in weeks)

Time to Complete Task B
(in weeks)

Probability

1

1

0.07

1

2

0.27

1

3

0.06

2

1

0.13

2

2

0.31

2

3

0.16

(a) What is the probability distribution of the duration of task A? of task B? of the job as a whole?

(b) What is the mean and the standard deviation of the duration of task A? of task B? of the job as a whole?

(c) Suppose that task A costs $800 for every week that it is in progress, and that task B costs $1,000 per week for every week that it is in progress, and that there is an additional charge of $400 for every week that the job as a whole is still in progress. Compute the probability distribution, the mean, and the standard deviation of the cost of this construction job.

Exercise 2.19

A package delivery company experiences high variability in daily customer demand, which in turn results in high variability in the daily workload at the central sorting facility. The company relies on its sorting facility employees working overtime to provide on-time delivery when the workload demand is very high. A sorting facility employee receives a salary of $12/hour for a 40 hour week, and the employee receives $18/hour for every hour worked overtime, that is, for every hour worked over 40 hours in a given week. The number of overtime hours that an employee works in any given week is a random variable, with a mean of 15 hours and a standard deviation of 4 hours. What are the mean, the standard deviation, and the variance of an employee's total weekly salary?

In: Statistics and Probability

An engineer has carefully measured the spacing between anchor bolts (in mm) as: 19   23    21   ...

An engineer has carefully measured the spacing between anchor bolts (in mm) as:

19   23    21    21
19   13    26    15
30    30   17    24
20   16    24    20

Find:
a. The 90 percent CI for µ
b. The 80 percent CI for µ
c. The 99 percent CI for µ assuming σ = 4.1 mm is known

In: Statistics and Probability

CHAPTER 2-4 Exercise 2.24 In this exercise, we examine the effect of combining investments with positively...

CHAPTER 2-4

Exercise 2.24

In this exercise, we examine the effect of combining investments with positively correlated risks, negatively correlated risks, and uncorrelated risks. A firm is considering a portfolio of assets. The portfolio is comprised of two assets, which we will call ''A" and "B." Let X denote the annual rate of return from asset A in the following year, and let Y denote the annual rate of return from asset B in the following year. Suppose that

E(X) = 0.15 and E(Y) = 0.20,

SD(X) = 0.05 and SD(Y) = 0.06,

and CORR(X, Y) = 0.30.

(a) What is the expected return of investing 50% of the portfolio in asset A and 50% of the portfolio in asset B? What is the standard deviation of this return?

(b) Replace CORR(X, Y) = 0.30 by CORR(X, Y) = 0.60 and answer the questions in part (a). Do the same for CORR(X, Y) = 0.60, 0.30, and 0.0.

(c) (Spreadsheet Exercise). Use a spreadsheet to perform the following analysis. Suppose that the fraction of the portfolio that is invested in asset B is f, and so the fraction of the portfolio that is invested in asset A is (1 f). Letting f vary from f = 0.0 to f = 1.0 in increments of 5% (that is, f = 0.0, 0.05, 0.10, 0.15, . . . ), compute the mean and the standard deviation of the annual rate of return of the portfolio (using the original data for the problem). Notice that the expected return of the portfolio varies (linearly) from 0.15 to 0.20, and the standard deviation of the return varies (non-linearly) from 0.05 to 0.06. Construct a chart plotting the standard deviation as a function of the expected return.

(d) (Spreadsheet Exercise). Perform the same analysis as in part (c) with CORR (X, Y) = 0.30 replaced by CORR(X, Y) = 0.60, 0.0, 0.30, and 0.60.

Exercise 2.38

Ninety percent of residential gas customers in Illinois use gas for residential heating. Sixteen residential gas customers are randomly selected to participate in a panel discussion for a state energy fair. A gas industry executive is hopeful that at least twelve of the panel members, i.e., 75%, will come from homes in which gas is used for residential heating. If you were the executive's assistant, what degree of assurance could you give the executive that her 75% goal might be reached or exceeded?

In: Statistics and Probability

A random variable X is exponentially distributed with a mean of 0.21. a-1. What is the...

A random variable X is exponentially distributed with a mean of 0.21.

a-1. What is the rate parameter λ? (Round your answer to 3 decimal places.)


a-2. What is the standard deviation of X? (Round your answer to 2 decimal places.)


b. Compute P(X > 0.36). (Round intermediate calculations to at least 4 decimal places and final answer to 4 decimal places.)

In: Statistics and Probability

Maggie Vitteta, single, works 30 hours per week at $14 an hour. How much is taken...

Maggie Vitteta, single, works 30 hours per week at $14 an hour. How much is taken out for federal income tax with one withholding exemption? (Assume the overtime for each employee is a time-and-a-half rate after 40 hours.) (Use Table 7.1 and Table 7.2) (Round your answer to the nearest cent.)

In: Statistics and Probability

If μ = 100, σ = 12, and n = 16, then use the t distribution...

If μ = 100, σ = 12, and n = 16, then use the t distribution to evaluate the probability ?̅ exceeds 103? Express your answer as a percentage with 3 decimals.

In: Statistics and Probability

The Social Security Administration increased the taxable wage base from $107,200 to $109,100. The 6.2% tax...

The Social Security Administration increased the taxable wage base from $107,200 to $109,100. The 6.2% tax rate is unchanged. Joe Burns earned over $120,000 each of the past two years. a. What is the percent increase in the base? (Round your answer to the nearest hundredth percent.) Percent increase % b. What is Joe’s increase in Social Security tax for the new year? (Round your answer to the nearest cent.) Increase in social security tax $

In: Statistics and Probability

A consumer preference study compares the effects of three different bottle designs (A, B, and C)...

A consumer preference study compares the effects of three different bottle designs (A, B, and C) on sales of a popular fabric softener. A completely randomized design is employed. Specifically, 15 supermarkets of equal sales potential are selected, and 5 of these supermarkets are randomly assigned to each bottle design. The number of bottles sold in 24 hours at each supermarket is recorded. The data obtained are displayed in the following table. Bottle Design Study Data A B C 14 31 24 17 32 25 13 29 28 14 30 27 15 34 28 The Excel output of a one-way ANOVA of the Bottle Design Study Data is shown below. SUMMARY Groups Count Sum Average Variance Design A 5 73 14.6 2.3 Design B 5 156 31.2 3.7 Design C 5 132 26.4 3.3 ANOVA Source of Variation SS df MS F P-Value F crit Between Groups 729.7333 2 364.8667 117.70 3.23E-06 3.88529 Within Groups 37.2 12.0 3.1000 Total 766.9333 14 (a) Test the null hypothesis that μA, μB, and μC are equal by setting α = .05. Based on this test, can we conclude that bottle designs A, B, and C have different effects on mean daily sales? (Round your answers to 2 decimal places. Leave no cells blank - be certain to enter "0" wherever required.) F 117.70 p-value 0.00 H0: bottle design have an impact on sales. (b) Consider the pairwise differences μB – μA, μC – μA , and μC – μB. Find a point estimate of and a Tukey simultaneous 95 percent confidence interval for each pairwise difference. Interpret the results in practical terms. Which bottle design maximizes mean daily sales? (Round your answers to 2 decimal places. Negative amounts should be indicated by a minus sign.) Point estimate Confidence interval μB –μA: 16.60 , [ 13.63 , 19.57 ] μC –μA: 11.80 , [ 8.83 , 14.77 ] μC –μB: -4.80 , [ -7.77 , -1.83 ] Bottle design maximizes sales. (c) Find a 95 percent confidence interval for each of the treatment means μA, μB, and μC. Interpret these intervals. (Round your answers to 2 decimal places. Negative amounts should be indicated by a minus sign.) Confidence interval μA: [ 13.12 , 16.08 ] μB: [ 29.32 , 33.08 ] μC: [ 24.63 , 28.17 ].

In: Statistics and Probability

Please answer the following questions, 1- Explain a problem/question related to your work 2- make up...

Please answer the following questions,

1- Explain a problem/question related to your work

2- make up a fictional data set with the variables that you'll need to answer your question or solve your problem;

3- Apply appropriate data analysis tools;

4- Draw conclusions regarding your question based on your results.

5- Finally, upload your work in one Excel spreadsheet.

In: Statistics and Probability

As a systems analyst you are leading a project to identify improvements for the current R-ADT...

As a systems analyst you are leading a project to identify improvements for the current R-ADT system. The primary uses of the system include patient scheduling, patient admitting, HIM, case management, and nursing.

Explain what options you have for conducting the requirements analysis, identify which of these you would choose to use and why, and then describe in detail the process you would follow.

**When they say identify which of these you would chose it is referring to these:

System Initiation

Requirements Analysis

System Design

System Construction

System Acceptance

System Implementatio

In: Statistics and Probability

A single card is drawb from a standard 52-card deck. What is the probability that the...

A single card is drawb from a standard 52-card deck. What is the probability that the card is either

a) a seven, or an eight, or a ten?
b) a heart, or a club, or a spade?
c) a five, or an ace, or a heart?
d) a queen, or an eight, or a club, or a spade?

In: Statistics and Probability