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Recent questions in College Statistics
College StatisticsAnswered question
opepayflarpws opepayflarpws 2022-06-05

Suppose we're studying the time it takes for a certain industrial process to complete. A recent study, which measured the time it took to complete 51 processes, gave a mean time of 2.396 minutes with standard deviation of 1.967 minutes. From past studies it has been observed that the standard deviation of the time it takes for the process to complete is 2.1 minutes. Calculate a confidence interval of 98% for the standard deviation of the time it takes to complete the process.

I don't understand why would they give me the value of the standard deviation of past processes, if I already have a value for s 2 (namely 1.967). By the way, I build the confidence interval by using the fact that ( n 1 ) S 2 / σ 2 follows a Chi squared distribution and then calculating the probability of σ 2 being between the inferior and superior limits of the χ 2 distribution for which the area under the curve is equal to (1−0.98)/2. I do not know why is that past value there if the interval can be calculated using only the first value.

I remember that in class, the professor said that S p 2 is the single best estimator of the variance of a single population in terms of the variance of another population, though I didn't understand that. I suspect I can use the pooled variance in order to calculate a more accurate confidence interval taking in account both values of the standard deviation that they give me?

And in general, what sense does it make to calculate the confidence interval for a variable whose value I already know?

College StatisticsAnswered question
Roland Manning Roland Manning 2022-06-05

What's the mode of: 1, 2, 3, 4, 5?

College StatisticsAnswered question
Amirah Hayden Amirah Hayden 2022-06-04

The following computer output shows an estimated equation. Here; W: Weekly wage.
MALE: Gender, takes the value of 1 if the worker is male and 0 if female.
EDU: Education Level,
EDU1=1 if the worker has no formal education and 0 otherwise,
EDU2=1 if the worker has primary education and 0 otherwise,
EDU3=1 if the workerhas secondary and high school degree and 0 otherwise,
EDU4=1 if the worker hasbachelor, master, and/or Ph.D. degree and 0 otherwise.
EXP: Experience (thenumber of years being employed).
Dependent Variable: W
Method: Least Squares
Date: 01/02/21 Time: 09:15
Sample: 1 935
Included observations: 935
Variable Coefficient Std. Error t-Statistic Prob.
C 508.7969 49.56471 10.26531 0.0000
MALE 486.2831 20.27897 23.97967 0.0000
EDU2 37.93184 35.58875 1.065838 0.2868
EDU3 153.9977 40.51264 3.801225 0.0002
EDU4 251.2214 40.92353 6.138799 0.0000
EXP 10.28997 2.548076 4.038331 0.0001
R-squared 0.461610 Mean dependent var 957.9455
Adjusted R-squared 0.458713 S.D. dependent var 404.3608
S.E. of regression 297.4973 Akaike info criterion 14.23508
Sum squared resid 82220789 Schwarz criterion 14.26615
Log likelihood -6648.902 Hannan-Quinn criter. 14.24693
F-statistic 159.3033 Durbin-Watson stat 0.446774
Prob(F-statistic) 0.000000
a) Write out the estimated wage model below (use 1-digit for decimal):
b) Check the statistical significance of EXP, and EDU2 at 5 % level respectively(hypothesis tests) below: 6
c) Interpret the coefficient of determination below:
d) Interpret the coefficients of MALE, EDU3, and EXP below:

College StatisticsAnswered question
Schenone2pare Schenone2pare 2022-06-04

What is the mean of 80, 86, 78, 100, 27?

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