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Statistics MT - Speech or Presentation Example

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Determining the exact population mean is not possible unless information on all the population observations are available and that is why, statisticians often take the help of confidence intervals to determine the same from the sample mean. There are two types of tests…
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Download file to see previous pages Hence, the 95% confidence interval for the population mean using the Students t-test is given by,
In such cases, the placement of the central tendencies are Mean < Median < Mode. The mode is that value which occurs with the highest frequency and the median is the middle-most value among the observations.
5. the positively skewed cumulative distribution curves are characterized by a concentration of mass on the left-hand side of the curve. Such a curve is drawn in the side diagram. Quite clearly, since the median considers the mid-point of the curve and the mean of the curve is actually the weighted mean, considering the frequencies with which each observed value appears, the mean has a greater value than the median in this case. Thus, the rational agent will accept the mean salary of major league baseball players, rather than the median salary.
6. The decision to eliminate an applicant could be taken only after studying the percentage mean of their test marks and the variations of the marks obtained in each test from the population mean value, which is measured by the standard deviation of the observations from the mean. The higher the population mean and lower the standard deviation are, the better is the situation considered. In fact, a high standard deviation implies a lower consistency in activities and thus the situation which displays the highest value, is considered as the worst one. In this particular case, it is found that the test results of Applicant 3 has the highest standard deviation and thus he is the one ho should be eliminated.
= (800/2000) x 100 = 40%. From the normal table it is known that at 95% confidence interval using to-tailed tests, the value of the standard normal variate is 1.96. Hence, the formula to calculate the 95 percent confidence interval about the true population percentage ...Download file to see next pagesRead More
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