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Concept explainers
Set up the “Ho” and “Ha” statements for the following. Remember to draw graphs showing the “Accept” and “Reject” areas.
a)Michelle, of TeRn Downe 4 What! found that at least 75% of students, after taking Prof. Yankey’s stats class, go on to become financially secure.
b)The variance of the amount spent by consumers during the “After-Easter” sales is equal to $2005.
c.According to Papalii Tea Corp., the starting salary of a college graduate is higher than $85,000/year on average.
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Hypothesis testing plays a major role in research and development. To diagnose the underlying cause the hypothesis is generated and data is collected. Then, with the help of statistical methods, the results are drawn.
In hypothesis testing, two hypotheses are formed, namely null and alternate hypotheses. The alternative hypothesis is the result that the researcher wants or tries to prove and the null hypothesis is the opposite of the alternative hypothesis.
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- For the following line graph, State at least one type of conclusion that could be made from the data provided for the KPI. Suggest one other data source that would provide more information to make data-driven decisions. Explain what information that source would supply. I used the line graph btw. Examples: 1)The KPI webpage for South Texas College provides information on the proportion of graduates who find employment. According to the data, over the past five years, the proportion of graduates who find work has risen annually. Data on the percentage of students who are employed in their field of study after graduation, the percentage of students who are employed full-time after graduation, and the percentage of students who are satisfied with their job after graduation would also be useful in making decisions about post-graduation success. This information would shed light on the factors that are causing the rise in the proportion of graduates who find employment. 2)The…arrow_forwardMariah Jacobsen is the marketing manager at ABC Electronics, a major consumer electronics supplier in the northwest. Over the last five years, sales of the company's flagship product - the Wizer Anonymizer (the WA) - have been 45000, 45500, 44500, 46000 and 44000 units. This rate of sales is considered average for the product over the last twenty years or so. Ms. Jacobsen believes that the distribution of the WA's sales is normal with a standard deviation of 1500 units. If she were asked to make a forecast of next year's sales to upper management, what is the likelihood that she would be correct if she predicts sales between 43000 and 46000?arrow_forward10. Refer back to the histogram from question #4.(Attatched)a. Compute the mean number of shipping daysc. Write the 5-number summary for this data.d. Create box plot.arrow_forward
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