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A car salesman claims that the variance of prices on convertibles is higher than the variance on station wagons. The standard deviation of 16 convertibles is $6800 and the standard deviation of 24 station wagons is $3900. For = 0.05, what is the test value? a. 3.00 b. 3.04 c. 2.78 d. 2.33
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The answer is in the definition of median and mean. Let me demonstrate: Below are 11 households with following net worth: $8,000.00 $8,200.00 $8,400.00 $9,000.00 $9,500.00 $11,600.00 $30,000.00 $150,000.00 $180,000.00 $260,000.00 $315,300.00 Step 1: arrange net worth starting with the lowest to the highest: Find the median (the net worth in the middle), that is #6 ($11,600). Now take the average or the mean: You total all net worth ($990,000) and divide by # of households (11). The mean is $990000/11 = $90,000. The most important thing to learn is how people use these definitions to manipulate opinions. A politician might tell you that the average income per household is $80,000. Unless you know exactly what that means, you may say people in the US are really making big money. Actually, such a quote tells you very little about the income per household. With the same total income, the median household income in the US is about $42,000. Now this tells you something. It tells you that one half of American families have less income than that. Compare the median to the mean ($42,000 vs $80,000) it tells you that the income distribution is very skewed, with a small number of people having enormous incomes. That's why some politicians want to take from the rich and give it to the not so rich (usually the democrats)
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A sample of n=20 scores has a mean of M=30. a) If the sample standard deviation is s=10, would a score of X=38 be considered an extreme value (out in the tail of the distribution)? b) If the sample standard deviation is s=2, would a score of X=38 be considered an extreme value (out in the tail of the distribution)? Thanks for answering and helping:)
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What formula would I use to figure this out... A job has been time-studied for several cycles, and the mean actual time was found to be 1.84 minutes. The standard deviation of the actual times were estimated to be 0.38 minute. How many observations should be taken to estimate the true actual time within 10 percent with a 95 percent confidence level?
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I think 100 people interviewed 60 out of a hndred becomes 60% 60 out of 100 is equal to 360 out of 600= 60 %
Help with statistics homework...I have a final tomorrow and I need to know how to do the following problem...?
can't help you here, the question is incomplete. repost of send an email and I'll give you a hand. look through your notes for hypothesis tests for large sample difference in proportions. I'm going to bet that the question is asking if the 2004 proportion is larger than the 2002 proportion. in that case: H0: p2004<=p2002 vs. H1: p2004>p2002 think about what you can and cannot conclude from this hypothesis test. if you an reject H0 then you have statistical evidence that the proportion in 2004 is larger than the proportion in 2002. if you fail to reject H0 then it is plausible that 2004 had the same or smaller proportion. This is the set up that is favorable. what if you had it the other way around? H0: p2004>=p2002 vs. H1: p2004
I really need help with some statistics homework..I've tried to figure it out but I'm having a hard time!
The diameters of oranges from a Florida orchard are normally distributed with mean equal to 3.5 inches and standard deviation equal to 1.1 inches. A packing supplier is designing special occasion presentation boxes of oranges and needs to know the average diameter for a random sample of 10 oranges. 1a. What is the probability that the mean diameter, , is smaller than 3 inches? 1b. What is the probability that the mean diameter is wider than 4 inches? 1c. What is the probability that the mean diameter is between 3 and 4 inches?