k-Means Clustering of Wines. Amanda Boleyn, an entrepreneur who recently sold her start-up for a multi-million-dollar sum, is looking for alternate investments for her newfound fortune. She is considering
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k-Means Clustering of Wines. Amanda Boleyn, an entrepreneur who recently sold
her start-up for a multi-million-dollar
sum, is looking for alternate investments for her
newfound fortune. She is considering an investment in wine, similar to how some people
invest in rare coins and fine art. To educate herself on the properties of fine wine, she has
collected data on 13 different characteristics of 178 wines. Amanda has applied k-means
clustering to this data for k 5 1, . . . , 10 and generated the following plot of total sums
of squared deviations. After analyzing this plot, Amanda generates summaries for k 5 2,
3, and 4. Which value of k is the most appropriate to categorize these wines? Justify your
choice with calculations.
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- The website Data USA stated that in 2016, Texas had the lowest number of adults with a serious mental illness with an average of M=3.26% of the population affected. The state of Texas wants to test if they have a significantly decreased number of mental illness patients compared with the states with the (n=8) highest level of mental illness found. In 2016 the following states had the highest level of adult patients with mental illness: Arkansas= 5.45%, Montana=5.34%, Vermont=5.32%, Oregon=5.19%, Utah=5.2%, Ohio=5.13, Kentucky=5.25% West Virginia=5.18%. The alpha level for the study was set to α=.05 for the criteria. a. State the hypotheses of the study. b. Find the critical t value for this study c. Compute the one-sample t test. (Again calculate sample SD or s - and get SEM before calculating t.) d. Compute the Cohen's d for the data (even if not significant) e. State the results - is the sample significantly higher? Do you reject the null hypothesis? Report the t test results in APA…Many investors and financial analysts believe the Dow Jones Industrial Average (DJIA) gives a good barometer of the overall stock market. On January 31, 2006, 9 of the 30 stocks making up the DJIA increased in price (The Wall Street Journal, February 1, 2006). On the basis of this fact, a financial analyst claims we can assume that 30% of the stocks traded on the New York Stock Exchange (NYSE) went up the same day. A sample of 72 stocks traded on the NYSE that day showed that 12 went up. You are conducting a study to see if the proportion of stocks that went up is significantly less than 0.3. You use a significance level of a = 0.005. What is the test statistic for this sample? (Report answer accurate to three decimal places.) test statistic = What is the p-value for this sample? (Report answer accurate to four decimal places.) p-value = The p-value is... O less than (or equal to) a O greater than a This test statistic leads to a decision to... O reject the null O accept the null O…Many investors and financial analysts believe the Dow Jones Industrial Average (DJIA) gives a good barometer of the overall stock market. On January 31, 2017, 9 of the 30 stocks making up the DJIA increased in price.On the basis of this fact, a financial analyst claims we can assume that 76% of the stocks traded on the New York Stock Exchange (NYSE) went up the same day. A sample of 61 stocks traded on the NYSE that day showed that 43 went up. You are conducting a study to see if the proportion of stocks that went up is significantlysmaller than 76%. You use a significance level of α=0.01α=0.01. For this study, we should use Select an answer 2-SampTInt 2-PropZInt 1-PropZInt T-Test χ²GOF-Test 2-SampTTest 2-PropZTest TInterval ANOVA 1-PropZTest χ²-Test The null and alternative hypotheses would be: H0H0: ? p μ Select an answer > = < ≠ (please enter a decimal) H1H1: ? p μ Select an answer ≠ = > < (Please enter a decimal) The test statistic =…
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