Construct a frequency distribution, using 4 classes and a class width of 2 hours, and a lower limit of 8 for class 1.
Consider H0: µ = 675 versus Ha: µ < 675
Part I : Problem
Fitting a straight line to a set of data yieldsthe following prediction line:
Interpret themeaning of the Y intercept, b0.
ii)Interpret the meaning of the slope, b1
iii)Predict the mean value of Y for X = 5
What is the differencebetween the standard deviation, standard error of the mean, and standard errorof the estimate? Discuss
The standard deviation measures the amount ofvariability or dispersion for a subject set of data from the mean, while thestandard error of the mean measures how far the sample mean of the date islikely to be from the true population mean. The standard error is an estimateof the standard deviation of a statistic. , it is used to compute theconfidence intervals and margins of error.
In a sample of size of 5, the sum of all values is 200.What is the sample mean
20 c. 800
40 d. None of the above
SHOW YOUR WORK!
0 but less than 5 0.37
5 but less than 10 0.22
10 but less than 15 0.15
15 but less than 20 0.10
20 but less than 25 0.07
25 but less than 30 0.07
30 or more 0.02
Referring to Table 1, whatis the width of each class?
1 minute c. 5minutes
2% d. 100%
SHOW YOUR WORK!
1. Width refers to thedifference between the lower limit of any two consecutive classes
2. Therefore, 5-0 = 5 or 10-5 =5
Referring to Table 1, whatis the cumulative relative frequency for the percentage of calls that lastedunder 10 minutes?
c. 0.59
d. 0.84
Cumulativerelative frequency is the sum of all relative frequency from the top to thelast values: for example, the sum of all calls under 10 minutes is found byadding (.37 + .22) = .59). for under 20 minutes, it is .84 as shown above forall values in the third column.
The managers of a real estate firm are interested infinding out if the number of new clients a broker brings into the firm affectsthe sales generated by the broker. They sample 5 brokers and determine thenumber of new clients they have enrolled in the last year and their salesamounts in thousands of dollars. These data are presented in the table thatfollows.
Broker Clients (X) Sales (Y)
1 1 4
2 6
1 3
0 1
1 1
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