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In your own words, discuss the relationship between a t-test and a confidence interval.
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- Pop. Mean Stand. Dev. Sample size 1 73.00 10.00 6.00 14 2 62.50 8 1.Independent random samples are selected from two populations. Below are selected summary statistics. (a) Construct the 95% confidence interval for μx-µY. (b) Obtain the P-value for the alternative µx =µY.Is it true or false that the least absolute deviations (LAD) estimator minimizes the sum of the absolute value of the population errors.A number of particular articles has been classified according to their weights. After drying for two weeks the same articles have again been weighted and similarly classified. It is known that the median weight in the first weighing was 20-83 gm. while in the second weighing it was 17-35 gm. Some frequencies a and b in the first weighing and x and y in the second are missing. It is known that a = x and b missing frequencies. 1 5 y. Find out the values of the Class Frequencies Class Frequencies 1st weighing 2nd weighing 1st weighing 2nd weighing 0-5 15-20 52 a 50 5-10 20-25 75 30 10-15 11 40 25-30 22 28
- Why can we not use first differences when we have independent cross sections in two years (as opposed to panel data)?Fewer young people are driving. In 1995, 63.9% of people under 20 years old who were eligible had a driver's license. Bloomberg reported that percentage had dropped to 41.7% in 2016. Suppose these results are based on a random sample of 1,200 people under 20 years old who were eligible to have a driver's license in 1995 and again in 2016. a. At 95% confidence, what is the margin of error and the interval estimate of the number of eligible people under 20 years old who had a driver's license in 1995? Margin of error (to four decimal places) Interval estimate to (to four decimal places) b. At 95% confidence, what is the margin of error and the interval estimate of the number of eligible people under 20 years old who had a driver's license in 2016? Margin of error = (to four decimal places) Interval estimate = to (to four decimal places) c. Is the margin of error the same in parts (a) and (b)? - Select your answer v Why, or why not?In sample 400 parts manufactured by a factory, the number of defective parts was found to be 30. The company, however, claimed that almost 5% of their product is defective. Is the claim tenable?
- An economist compiled data on productivity improvements last year for a sample of firms producing electronic computing equipment. The firms were classified according to the level of their average expenditures for research and development in the past three years. The results of the analysis of the study were as given below: Source of variation d.f Sum of squares Mean Sum of squares 2 23 groups error total 16.623 B 30.678 A сLet W be an estimator of a population characterisitc 7. If > E (W), W will under-estimate the population parameter. True O FalseYou collected a sample from a population which you realized has very high standarddeviation. You want to estimate the population parameter from this sample. You thinkthat your interval will be very wide, what you can do to narrow it down without changingyour confidence level. Will your suggestion to improve the width of the interval increasethe probability of the true mean lying in that interval?
- b) A small-town mechanic says that 8% his customers come in for an oil change. When 1000 samples were drawn from his records, it was found that 6.5% of these came in for an oil change. What is the target population? Does the value 8% refer to the parameter or to the statistic? Is the value 6.5% a parameter or a statistic? i. ii. iii.What are the Confidence Intervals for the Population Mean?8.1.2 If X = 148, o = 27, and n = 30, construct a 99% confidence interval estimate of the population mean, u. (Round to two decimal places as needed.)