Answer to Question #221897 in Statistics and Probability for DARRYL

Question

a) The Ghana Economic Management Association wishes to have information on the mean income of store managers in the retail industry. A random sample of 256 managers reveals a sample mean of Ghc45,420. The standard deviation of this population is Ghc2,050. What is a reasonable range of values for the population mean? Interpret your results.

b) i. Briefly outline the steps involved in hypothesis testing

ii. Use a table to illustrate how Type I and Type II error can occur

c) State one use for each of the following

i. The F distribution

ii. A one-way ANOVA

d) State three assumptions of ANOVA

QUESTION 2

The following sample observations were randomly selected

X 4 5 3 6 10

Y 4 6 5 7 7

a) Determine the correlation coefficient and interpret the relationship between X and Y.

b) Determine the regression equation

c) Determine the value of when X is 7.

d) State two uses of goodness-of-fit test

Answer 1

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