1. Compare and contrast the independent t-test and the analysis of variance. How are they similar and how are they different. 2. Come up with two hypothetical examples demonstrating this strategy or come up with "real-world" application using your professional life (i.e. how could you apply this in your work).

The value of a sports franchise is directly related to the amount of revenue that a franchise can generate.  The data below represents the value in 2017 ($ in millions) and the annual revenue ($ in millions) for the 30 Major League Baseball teams.

1. Using Excel or JMP, construct a scatterplot of value versus the revenue for the 30 MLB teams in 2016.  Provide a copy of the resulting scatterplot. (3 points)

2. Based upon your scatterplot, does it appear that the linear model is a reasonable approximation of the data? Comment on the direction and form of the relationship. (2 points)

3.  Using Minitab provide (or attach) the simple linear regression analysis for predicting a team’s value based upon its revenue. (2 points)

4. State the slope for the simple linear regression analysis and interpret this value in this context. (2 points)

5. State the y-intercept for the simple linear regression analysis and interpret, if applicable. (1 point)

6.  State the standard error of the regression analysis and interpret that value.  (2 points)

7. State the coefficient of determination and interpret the value in this context. (2 points)

8. State the sum of square errors. (1 point)

SSE=504849.5953

9. State the standard error of the slope. (1 point)

SEb(1)=sqrt(504849.5953/30-2)/sqrt(186742.7)=134.277/432.137=0.3107

Source: www.forbes.com

10. Calculate and interpret the 95% confidence interval for slope.   (2 points)

8.6507+-2.048(0.3107)=8.6507+-0.6363=(8.0144,

   We are 95% confident that the slope of the interval is between 8.0144 and 9.287.

11.  From the coefficient of determination, standard error of regression, and the confidence interval for slope does that model appear to fit well?  Explain.  (2 points)

A sample of 65 information system managers had an average hourly income of $42.75 and a standard deviation of $7.50.

a. When the 95% confidence interval has to be developed for the average hourly income of all system managers, its margin of error is

b. The 95% confidence interval for the average hourly income of all information system managers is

A random sample of 45 fresh graduates has a mean starting earnings of $3250. Assume the population standard deviation is $675. Construct a 90% the confidence interval for the population mean, μ. (Round your answer to the nearest integer)

a-($2575, $3925)

b-($3084, $3416)

c-($3053, $3447)

d-($3221, $3279)

Based on the data shown below, calculate the regression line (each value to two decimal places)

y =  x +

Suppose (?,?) are distributed uniformly inside the quadrilateral ? with vertices (0,0), (2,0), (1,1), and (0,1).

After deriving the marginal distribution for ?, compute the probability ?(1/2<?<3/2).

In one​ community, a random sample of

2727

foreclosed homes sold for an average of

​$440 comma 396440,396

with a standard deviation of

​$196 comma 981196,981.

Assume that a simple random sample has been selected from a normally distributed population and test the given claim. Identify the null and alternative​ hypotheses, test​ statistic, P-value, and state the final conclusion that addresses the original claim.

A coin mint has a specification that a particular coin has a mean weight of 2.5 g. A sample of 33 coins was collected. Those coins have a mean weight of 2.49554 g and a standard deviation of 0.01347 g. Use a 0.05 significance level to test the claim that this sample is from a population with a mean weight equal to 2.5 g. Do the coins appear to conform to the specifications of the coin​ mint?

Identify the test statistic.

t=?

​(Round to three decimal places as​ needed.)

Identify the​ P-value.

The​ P-value is ?.

​(Round to four decimal places as​ needed.)

State the final conclusion that addresses the original claim. Choose the correct answer below.

A. Fail to reject Upper H 0. There is sufficient evidence to warrant rejection of the claim that the sample is from a population with a mean weight equal to 2.5 g.

B. Reject Upper H 0. There is sufficient evidence to warrant rejection of the claim that the sample is from a population with a mean weight equal to 2.5 g.

C. Fail to reject Upper H 0. There is insufficient evidence to warrant rejection of the claim that the sample is from a population with a mean weight equal to 2.5 g.

D. Reject Upper H 0. There is insufficient evidence to warrant rejection of the claim that the sample is from a population with a mean weight equal to 2.5 g.

Do the coins appear to conform to the specifications of the coin​ mint?

A. No, since the coins seem to come from a population with a mean weight different from 2.49554 g.

B. Yes, since the coins do not seem to come from a population with a mean weight different from 2.5 g.

C. Yes, since the coins do not seem to come from a population with a mean weight different from 2.49554 g.

D. No, since the coins seem to come from a population with a mean weight different from 2.5g.

E. The results are inconclusive because individual differences in coin weights need to be analyzed further.

As the following table shows, projections indicate that the percent of U.S. adults with diabetes could dramatically increase.

(a) Find the logarithmic model that best fits the data in the table, with t as the number of years after 2000. (Round each coefficient to three places after the decimal.) D(t) = (b) Use the model to predict the percent of U.S. adults with diabetes in 2042. US adults with Year Diabetes (percentage) (

show your work please

You are the operations manager for American Airlines and you are considering a higher fare level for passengers in aisle seats. You want to estimate the percentage of passengers who now prefer aisle seats. a) How many randomly selected air passengers must you survey? Assume that you want to be 95% confident that the sample percentage is within 2.5 percentage points of the true population percentage. b) Assume that a prior survey suggests that about 38% of air passengers prefer an aisle seat.

final answers:

Suppose we have a binomial experiment in which success is defined to be a particular quality or attribute that interests us.

(a) Suppose n = 41 and p = 0.33.

(For each answer, enter a number. Use 2 decimal places.)
n·p =
n·q =

Can we approximate p̂ by a normal distribution? Why? (Fill in the blank. There are four answer blanks. A blank is represented by _____.)

_____, p̂ _____ be approximated by a normal random variable because _____ _____.

first blank:

Yes or No    

second blank:

can or cannot    

third blank:

n·q does not exceed

both n·p and n·q exceed    

n·p exceeds

n·p and n·q do not exceed

n·p does not exceed

n·q exceeds

fourth blank (Enter an exact number.)
________

What are the values of μ_p̂ and σ_p̂? (For each answer, enter a number. Use 3 decimal places.)
μ_p̂ =

σ_p̂ =

(b) Suppose n = 25 and p = 0.15.

Can we safely approximate p̂ by a normal distribution? Why or why not? (Fill in the blank. There are four answer blanks. A blank is represented by _____.)

_____, p̂ _____ be approximated by a normal random variable because _____ _____.

first blank:

Yes or No    

second blank:

can or cannot    

third blank:

n·q does not exceed

both n·p and n·q exceed   

n·p exceeds

n·p and n·q do not exceed

n·p does not exceed

n·q exceeds

fourth blank (Enter an exact number.):
________

(c) Suppose n = 48 and p = 0.11.

(For each answer, enter a number. Use 2 decimal places.)
n·p =
n·q =

Can we approximate p̂ by a normal distribution? Why? (Fill in the blank. There are four answer blanks. A blank is represented by _____.)

_____, p̂ _____ be approximated by a normal random variable because _____ _____.

first blank

Yes or No    

second blank

can or cannot    

third blank

n·q does not exceed

both n·p and n·q exceed   

n·p exceeds

n·p and n·q do not exceed

n·p does not exceed

n·q exceeds

fourth blank (Enter an exact number.)
_______

What are the values of μ_p̂ and σ_p̂? (For each answer, enter a number. Use 3 decimal places.)
μ_p̂ =
σ_p̂ =

In the census population density dataset, what are the first, second and third quartiles?

1,19,35,43,49,55,56,56,63,67,94,105,110,168,175,181,212,231,239,351,461,595,738,839,9857