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Card 21 / 22:
You want to buy a specific computer. A sales representative of the manufacturer claims that retail stores sell this computer at an average price of $1,249 with a very narrow standard deviation of $25. You find a website that has a price comparison for the same computer at a series of stores as follows: $1,299; $1,229.99; $1,193.08; $1,279; $1,224.95; $1,229.99; $1,269.95; $1,249. Can you argue that pricing has a larger standard deviation than claimed by the manufacturer? Use the 5% significance level. As a potential buyer, what would be the practical conclusion from your analysis?
The sample standard deviation is $34.29.
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Questions & Answers
number of sport play by 50 student construct discrete data
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Solve the mean of variance
Step 1: Find the mean. To find the mean, add up all the scores, then divide them by the number of scores. ...
Step 2: Find each score's deviation from the mean. ...
Step 3: Square each deviation from the mean. ...
Step 4: Find the sum of squares. ...
Step 5: Divide the sum of squares by n – 1 or N.
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diveving the sum if all values
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The sample of 16 students is taken. The average age in the sample was 22 years with astandard deviation of 6 years. Construct a 95% confidence interval for the age of the population.
Bhartdarshan' is an internet-based travel agency wherein customer can see videos of the cities they plant to visit. The number of hits daily is a normally distributed random variable with a mean of 10,000 and a standard deviation of 2,400
a. what is the probability of getting more than 12,000 hits?
b. what is the probability of getting fewer than 9,000 hits?
Bhartdarshan'is an internet-based travel agency wherein customer can see videos of the cities they plan to visit. The number of hits daily is a normally distributed random variable with a mean of 10,000 and a standard deviation of 2,400.
a. What is the probability of getting more than 12,000 hits
Akshay
Sorry i want to learn more about this question
Bright
a= 0.20233
b=0.3384
Sufiyan
How do I interpret level of significance?
It depends on your business problem or in Machine Learning you could use ROC- AUC cruve to decide the threshold value
Shivam
how skewness and kurtosis are used in statistics
Source:
OpenStax, Introductory statistics. OpenStax CNX. May 06, 2016 Download for free at http://legacy.cnx.org/content/col11562/1.18
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