f) agree. From the confidence interval we can conclude that we are 95% confident that the true mean weekly pay for all working women is between (603.4189 and 692.9515). AARP Bulletin’s reported average weekly pay for a woman with a high school degree is $520‚ which does not lie within the confidence interval. H) I) Yes‚ the conclusion would still be the same. Even though the outlier was removed‚ the conclusion is the same and from the confidence interval‚ we can conclude that
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construct a 95% confidence interval for the two proportions of responses between the two options. Using the results from these confidence intervals‚ I will see if there is enough statistical data to determine which pricing model to use. Analysis Page I have attached the excel sheet with the data analysis. Conclusion The conclusion that we came up with is that for the pricing option 1 with the $40.00 flat service rate for grooming‚ the confidence interval says that
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collection to ensure that the confidence interval is narrow enough to be useful in making decisions. Determining the proper sample size is a complicated procedure‚ subject to the constraints of budget‚ time‚ and the amount of acceptable sampling error. If you want to estimate the mean dollar amount of the sales invoices‚ you must determine in advance how large a sampling error to allow in estimating the population mean. You must also determine‚ in advance‚ the level of confidence (i.e.‚ 90%‚ 95%‚ or 99%)
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Statistics – Murali Shanker Chap 7-1 Confidence Intervals Content of this chapter Confidence Intervals for the Population Mean‚ μ when Population Standard Deviation σ is Known when Population Standard Deviation σ is Unknown Determining the Required Sample Size Fundamentals of Business Statistics – Murali Shanker Chap 7-2 Fundamentals of Business Statistics – Murali Shanker Chapter 7 Student Lecture Notes 7-2 Confidence Interval Estimation for μ Suppose you are interested
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Question 1 of 1: Interpreting the Confidence Interval Solve the following problems: A simple random sample of 40 salaries of NCAA football coaches has a mean of $415‚953 and a standard deviation of $463‚364. Construct a 95% confidence interval estimate of the mean salary of an NCAA football coach. In a study designed to test the effectiveness of acupuncture for treating migraine‚ 142 subjects were treated with acupuncture and 80 subjects were given a sham treatment. The numbers of migraine attacks
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in assistance of choosing appropriate methods of exploring and elaborating the related data. Moreover‚ by utilizing the approach of graphical and descriptive statistics to carry out an interpretation of relationship between the variables‚ confidence interval estimate‚ significant factors. Lastly‚ a summary based on the findings of data. a). The variables in this sample data‚ and what are the types of these variables? On what scales
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our best knowledge of business law‚ statistics‚ and ethics to help Mr. Plex choose the ideal decision. First of all we will compare the fraud and misrepresentation of business law. Furthermore‚ we conducted tests on Hypothetical test and a Confidence Interval calculation. Lastly‚ under the ethics theory of cost-benefit analysis‚ justice vs. fairness and rights‚ we decided on the best action that Mr. Plex is supposed to take. July at the Multiplex Purpose: This report is intended to analyze the liability
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1.stocks.xls data set For stock 1‚ the median was 0.0607‚ mean was 0.0286‚ the loss of investment can be as large as -0.5268‚ and the gain of the investment can be as large as 0.6015. However‚ the risk of loss was round 7%‚ while the chance to gain between 0 – 0.8 was very high‚ nearly 78%. For stock 2‚ the median was 0.0511‚ mean was 0.096413‚ the loss of investment can be as large as -0.9963‚ and the gain of the investment can be as large as 1.519. The risk to loss for stock 2 was about 12%‚
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Subject Code: ECOM90009 Subject Name: Quantitative Methods for Business Assignment Number: 2 Workshop Day and Time: Thursday 02:15pm Tutor Name: Jackson Yuen Student ID Number Student Name 1. 2. 3. 4. Question 1: a. Count 150 Mode 22 Sum 3231 Standard Deviation 4.728 Range 29 Sample Variance 22.357 Maximum 36 Coefficient of Variance 0.22 Minimum 7 Mad 3.0 Mean 21.54 25th percentile 18.5 Median 22 75th percentile
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Improvement Plan The purpose of this paper is to outline the process improvement plan to include the statistical process control identified in week one. To begin‚ I will explain the control limits‚ discuss the effect of seasonal factors and the confidence intervals and their usefulness based on the number of data points. For the past five weeks I have been monitoring and reviewing the process of posting the assignments on time as reviewed in the syllabus. The week consists of Monday through Monday postings
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