Compare and contrast Spearman and Pearson correlations.
A correlation analysis group of techniques to measure the relationship between two variables (Lind, D.A.,
2015 pg.428). Correlation is used to measure the linear strength and relationship between the
Provide an example of where you could use correlation in real life. Explain why a t-test is
necessary before you accept this correlation as being real in the population.
A correlation analysis group of techniques to measure the relationship between two va
As the marketing director of Harley-Davidson, you need to determine what your customers
would like in the next model. You put a survey on the Harley website. Is this a good frame
from which to select your sample? Explain.
The four common types of sampling
Describe the term mutually exclusive. Provide some examples. Must the values of x in a
discrete probability distribution always be mutually exclusive? Why or why not? Provide an
The expression mutually exclusive can be described as the occurrence
What does the p-value tell the business statistician, especially in terms of the normal
curve? If the p-value is smaller than the level of significance, what does that mean in terms
of the null hypothesis? Why?
The p-value is the probability of observing
Provide some examples of discrete and continuous variables. What attributes of these
variables make them discrete and continuous? Why?
A random variable is a quantity resulting from an experiment that, by chance, can assume different
values. Two distribut
Give an example of a situation in which you believe a Type I Error is more serious than a
Type II Error. Give an example of a situation in which you believe a Type II Error is more
serious than a Type I Error. In each case, why do you think so?
You just saw an ad on television that states the majority of the population would vote to
make smoking illegal. The poll that is referenced shows 53% of those asked supported
making smoking illegal. In the fine print at the bottom of the screen, you see t
Your mayor just announced that the local unemployment rate dropped last month from the
prior month. It went from 10.5% to 10.4%. Is this a significant drop? Explain.
The unemployment rate dropping from 10.5 percent to 10.4 percent for an average size city
A research firm tracks the average highway speed of 30 drivers driving home on Day 1. For
the next 10 days, the drivers are given two cups of coffee 1 hour before the drive home. On
the 10th day, the average highway speed is measured again. Does this stud
Chapter 6 Ex. 45
a. How many of the policyholders would you expect to have filed a claim within the last
Total policyholder to have filed a claim
b. What is the probability that 10 of the selected policyholders submitted a claim last
CHAPTER 1 EX. 22
CHAPTER 8 EX. 44
Sample Size =
Standard error =
CHAPTER 8 EX. 48
Data Set 3 -Buena School District Bus Data
Bus Number Maintenanc
The U.S. government keeps statistics on many people in America. One
interesting statistic is the poverty rate. To be living in poverty, one must
earn income below a certain threshold (approximately $900 per month).
Many multimillionaires are included in t
1. Create two frequency tables based on two separate questions from your survey.
Frequency table of appropriate age to start Kindergarten?
Frequancy Chart of delaying the
Probability as defined in statistics is a value between zero and one,
inclusive, that describes the chance or likelihood a relative possibility an
event can occur. A probability is frequently expressed as a decimal, such
as .70, .27, or .50. However, it m
It is a drop, but by only 0.1%. It isn't a significant drop. The average city has a population of about 20,000
people. 10.5 percent of 20,000 is 2,100. 10.4 percent of 20,000 is 2,080. So, it really isn't a significant
Even if a city had a much larg
The claims by both companies could essentially be true. Because both companies are presenting
information that is inferential. Inferential statistics are the methods used to estimate a property of
a population based on a sample (Lind, Marchal, & Wathen, 2
Discussion Question 1:
Advertising departments for many major companies use
statistics to prove that their products are the best in the
market. One that I always thought was laughable growing
up was Colgates statement of being recommended by
80% of dentis
An auditor for Health Maintenance Services of Georgia reports 40% of policyholders 55 years
or older submit a claim during the year. Fifteen policyholders are randomly selected for
a. How many of the policyholders would you expect to have
Z Test of Hypothesis for the Mean
Level of Significance
Population Standard Deviation
Standard Error of the Mean
Z Test Statistic
A random sample of 20 items from the first population showed a mean of 100 and a standard
Confidence Interval Estimate for the Proportion
Number of Successes
Standard Error of the Proportion
Interval Half Width