Q7: Write the treatment plan for the following risk "Possibility of wrong data entery is 6.5%"
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- Your boss wants to use absenteeism rates to predict which employees will most likely quit during the next year. What statistic should you use here?2. You are considering buying into a mutual fund that has earned a normally distributed return on investment over the years. It has a mean annual return of 9% (.09) with a standard deviation of 5% (.05). What are the chances your investment will lose money?Briefly explain what is meant when a researcher reports “a significant mean difference between two treatment conditions.”
- 1.What is the conclusion of this test at the 5% level of significance? Give reasons for your answer. 2. Name two limitations of this test.Investigators interested in the association between serum vitamin D levels and various birth outcomes recruited pregnant mothers to have a blood draw during the second trimester of their pregnancy. Mothers were followed until they gave birth. The health outcomes were compared among mothers with low, adequate, and high vitamin D levels. Describe a risk measurement that you think would be most appropriate to compare the groups, and justify your choice.2. The following table shows a sample of the expense ratios for different types of stock funds. Use a 95% ANOVA test using Excel to see if the mean expense ratios for all types of stock funds are the same. Be sure to show the appropriate Ho and Ha along with your conclusion. Print your Excel spreadsheet for this problem, attach it to your problem set and save this for future reference. Mid-Cap Funds 1.3 1.1 1.0 1.3 1.3 1.7 1.4 1.3 1.3 1.7 Small-Cap Funds 2.0 1.4 1.5 1.8 1.6 2.2 1.9 15 1.4 1.8 Hybrid Funds 2.0 2.4 1.5 1.5 2.3 1.0 .09 1.4 1.4 .08 Specialty Funds 1.3 2.6 2.9 2.3 1.6 1.5 1.9 2.4 2.2 .09
- 1. a. In testing a hypothesis, if the p-value is less than 1%, your decision should be to: A. Reject the null hypothesis. B. Accept the null hypothesis. C. Do the analysis again. D. Give your statistics professor a round of applause. b. If your computer reports a p-value of 1.205, then: A. The null hypothesis should be accepted. B. The data has almost certainly been faked. C. The null hypothesis should be rejected. D. The computer software package has certainly made a mistake. In hypothesis testing: A. The null hypothesis is given the benefit of the doubt and it can sometimes be proven to be C. true. B. The null hypothesis is given the benefit of the doubt and it cannot be proven to be true. C. The alternative hypothesis is given the benefit of the doubt and it can sometimes be proven to be true. D. The alternative hypothesis is given the benefit of the doubt and it cannot be proven to be true.This is a friendly reminder about scientific notation. Excel reports very small numbers in scientific notation. For example, 8.15E-05 is typical notation for 8.15 x 10-5. The exponent of -5 means you have to move the decimal five places to the left and fill in with zeroes. What you get is 0.0000815. Here is the Excel output again for the regression of Sales and Experience: Regression Statistics 0.5966 0.3559 0.339 497.9058 Multiple R R Square Adjusted R Square Standard Error Observations ANOVA Regression Residual Total Intercept Experience (months) 40 df 1 38 39 Coefficients 6.6108 SS MS 5205388.04 5205388.04 9420585.51 Standard Error 4250.9742 180.2332 14625973.55 1.4427 247910.15 t Stat 23.586 4.5822 P-value 2.71E-24 4.85E-05 F 20.9971 Lower 95% Upper 95% Significance F 4.85E-05 3886.1113 4615.8372 3.6902 The analyst decides to use an a = 0.05 significance level. Is there a statistically significant relationship between Sales and Experience? 9.5313A researcher concluded that a patient was in the risk group of developing a rare disease based on the blood analysis results, but in fact, the patient was not. What type of error did the researcher make? Explain.
- 15. In linear regression analysis, the difference between an observed value of a response variable and the corresponding predicted value is called? A: An outlier. B: An extrapolation. C: An influential point. D: A residual.What research decision influences the magnitude of risk of a Type 1 error?San Gabriel office of statistics believes that the minimum salary of workers in the city is about $120,000. Some students at PCC believe this claim may be incorrect and surveyed some residents of the city. The results are provided below. At a level of significance of 2%, can we conclude that workers at San Gabriel make $120,000 annually? Please show all steps in Excel yearly Income 140,000 200000 65000 70,000 130,000 475,000 80,000 45,000 120,000 10,000 40,000 85,000
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