Which of the following should certainly be known to select a value in the chi-square distribution table?
A) the mean and the variance of the observations
B) the level of significance and the variance of the observations
C) the degrees of freedom and the mean of the observations
D) the level of significance and the degrees of freedom
Q. 2Give an example to illustrate that the median should not always be preferred to the mean when the population or sample is skewed.
What will be an ideal response?
Q. 3Many economic and business measures such as sales, investment, consumption, costs, and revenues can be represented by continuous random variables.
Indicate whether the statement is true or false
Q. 4What percentage of the students in the sample went partying the weekend before the final exam and did poorly on the exam?
What will be an ideal response?
Q. 5The probability of the intersection of two events cannot exceed the product of their individual probabilities.
Indicate whether the statement is true or false
Q. 6Repeated measurements collected from the same individuals is an example of data collected from two related populations.
Indicate whether the statement is true or false
Q. 7Suppose that the population standard deviation for today's output is 0.14 lb (not 0.11 lb).
Without doing the calculations, explain whether a correctly calculated 99 confidence interval for the mean weight of today's output would be wider than, narrower than, or the same width as that of a 99 confidence interval calculated using the population standard deviation of 0.11 lb for today's output.
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