### Introductory Statistics

Wednesday, 08 February 2017

Let x be a random variable representing dividend yield of Australian bank stocks. We may assume that x has a normal distribution with f\$sigma f\$ = 2.8%. A random sample of 16 Australian bank stocks has a sample mean dividend yield of 8.91%. For the entire Australian stock market, the mean dividend yield is f\$mu

### Make use of dummy variable in the regression analysis

Wednesday, 08 February 2017

First, explain in your own words (no direct quotes, please) what a dummy variable is and its purpose in regression analysis. Secondly, provide an example of where you might use a dummy variable from your own professional experience. Thirdly, briefly describe how you would implement a dummy variable in a data table you intend to

### Library of Congress

Wednesday, 08 February 2017

The head librarian at the Library of Congress has asked her assistant for an interval estimate of the mean number of books checked out each day. The assistant provides the following interval estimate: from 740 to 920 books per day. If the head librarian knows that the population standard deviation is 150 books checked out

### Dependent Sample T-test

Wednesday, 08 February 2017

In this activity, we are interested in finding out whether participation in a creative writing course results in increased scores of a creativity assessment. For this part of the activity, you will be using the data file “Activity 4a.sav”. In this file, “Participant” is the numeric student identifier, “CreativityPre” contains creativity pre-test scores, and “CreativityPost”

### MANOVA in Drug Selection

Wednesday, 08 February 2017

In this exercise, you are playing the role of a researcher that is testing new medication designed to improve cholesterol levels. When examining cholesterol in clinical settings, we look at two numbers: low-density lipoprotein (LDL) and high-density lipoprotein (HDL). You may have heard these called “good” (HDL) and “bad” (LDL) cholesterol. For LDL, lower numbers

### Descriptive Statistics – Statistical Inference

Wednesday, 08 February 2017

A. Select a topic of interest – preferably College related such the height of students or the number of hours they take to prepare for classes. B. Choose 2 variables to observe: 1) Female and 2) Male C. Collect 20 data points on each variable 1. Perhaps, you may design a questionnaire to collect you

### Statistics: measures of central tendency

Wednesday, 08 February 2017

Table 1 An insurance company evaluates many numerical variables about a person before deciding on an appropriate rate for automobile insurance. A representative from a local insurance agency selected a random sample of insured drivers and recorded, X, the number of claims each made in the last 3 years with the following results: X f

### Discuss Validity of Central Limit Theorem

Wednesday, 08 February 2017

What is the Central Limit Theorem? How large should the sample size be if the underlying distribution of the population values are: a. Normally distributed (discuss). b. Non-normally distributed. (discuss) 2. What is the difference, if any, between the standard deviation of the sample and the standard error of the mean? Discuss

### Interval Estimates vs. Point Estimates & Practical Population Mean Data

Wednesday, 08 February 2017

Question 1: Why is an interval estimate for the population preferred to a point estimate? Question 2: In real business practices, is information about the population mean available? Discuss

### Confidence Interval & Sample Size Calculated Step by Step

Wednesday, 08 February 2017

If X bar = 85, σ = 8, and n = 64, construct a 95% confidence interval estimate for the population mean, µ. Show work! That is draw the a) normal curve, b) put in the given information(mean and standard deviation), c) identify the area to be solved, d) show the Z conversion of the

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