Central bank believes that if consumer confidence is too high, the economy risks over ating. Low confidence is a warning that recession might be on the way. In either case, the nk may choose to intervene by altering interest rates. The ideal value for the bank's chosen easure is 50. We may assume the measure is normally distributed with standard deviation 10. e bank takes a survey of 30 people. Which returned a sample mean of 54 for the index. What uld you advice the bank to do? Use (alpha)= 0.05.
Contingency Table
A contingency table can be defined as the visual representation of the relationship between two or more categorical variables that can be evaluated and registered. It is a categorical version of the scatterplot, which is used to investigate the linear relationship between two variables. A contingency table is indeed a type of frequency distribution table that displays two variables at the same time.
Binomial Distribution
Binomial is an algebraic expression of the sum or the difference of two terms. Before knowing about binomial distribution, we must know about the binomial theorem.
Hello, below find a question based on probability and statistics, and please do a deep working because i am weak at this and kindly provide the correct answer with correct values, thanks in advance
Step by step
Solved in 2 steps