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Anyone know Statistics?

Discussion in 'Off-Topic Discussion' started by memario1214, Feb 16, 2011.

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  1. Feb 16, 2011 at 7:05 PM
    #1
    memario1214

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    memario1214 [OP] Hotshot Offroad Moderator Vendor

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    I am having a beast of a time with confidence intervals right now and am completely zoning out on it, for I haven't seen it for quite some time. Anyone able to help me out?
     
    memario1214, Feb 16, 2011
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  2. Feb 16, 2011 at 7:07 PM
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    TexasTacoma37

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    TexasTacoma37 Well-Known Member

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    I took a few classes of stat but I don't remember the equations or anything.
     
    TexasTacoma37, Feb 16, 2011
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  3. Feb 16, 2011 at 7:11 PM
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    memario1214

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    memario1214 [OP] Hotshot Offroad Moderator Vendor

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    Well, here's one of the questions...

    A random sample of 160 commercial customers of PayMor Lumber revealed that 32 had paid their accounts within a month of billing. The 90% confidence interval for the true proportion of customers who pay within a month would be...?
     
    memario1214, Feb 16, 2011
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  4. Feb 16, 2011 at 7:15 PM
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    TexasTacoma37

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    TexasTacoma37 Well-Known Member

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    Yeah there's going to be an equation that uses the number of people sampled (n) to caclulate a range such that if you conducted the same survey 100 times, the number of people who said yes would fall in the "confidence interval" range 90 of those times.
     
    TexasTacoma37, Feb 16, 2011
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  5. Feb 16, 2011 at 7:18 PM
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    Gieser

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    i remember leaning this but i cant remember...and that was only last year:frusty:
     
    Gieser, Feb 16, 2011
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  6. Feb 16, 2011 at 7:22 PM
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    crf69

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    crf69 scraping my emblems off my plasti-dip

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    ummm yeah
    statistics?
    90% wrong 60% of the time or something like that
     
    crf69, Feb 16, 2011
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  7. Feb 16, 2011 at 7:26 PM
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    06ToyTaco

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    Using those numbers in the appropriate type of test and the bell curve, you can come to the conclusion that over such interval you have significance evidence that "32/160 customers pay within a month" happens 90% of the time.

    The 90% is the area under the curve. In this case, it is a 2-sided p-value of .05 (5%).
     
    06ToyTaco, Feb 16, 2011
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  8. Feb 16, 2011 at 7:27 PM
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    TexasTacoma37

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    TexasTacoma37 Well-Known Member

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    Oh man it's all coming back to me now.

    You basically repeated what I said earlier, but you did it in a way that was actually concise and intelligent sounding. :laugh:
     
    TexasTacoma37, Feb 16, 2011
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  9. Feb 16, 2011 at 7:28 PM
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    memario1214

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    memario1214 [OP] Hotshot Offroad Moderator Vendor

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    The bell is starting to jingle, but it's not ringing yet.
    My answers are:
    a. .148-.252
    b. .138-.262
    c. .144-.256
    d. .153-.247
    e. None of the above
     
    memario1214, Feb 16, 2011
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  10. Feb 16, 2011 at 7:30 PM
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    PatHLC128

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    PatHLC128 College.

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    I just started a 'Prob & Statistics for Engineering and the Sciences' course and it's harder for me than multivariable calculus was...I hate it.
     
    PatHLC128, Feb 16, 2011
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  11. Feb 16, 2011 at 7:31 PM
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    TexasTacoma37

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    TexasTacoma37 Well-Known Member

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    Huh? I was expecting something like "28-36" or something like that.

    Or are those percentages..... 32/160=0.2 That's got to be it.
     
    TexasTacoma37, Feb 16, 2011
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  12. Feb 16, 2011 at 7:41 PM
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    memario1214

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    memario1214 [OP] Hotshot Offroad Moderator Vendor

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    I figured it out!!!!!!! But I have like 10 to do and it's due at 9. I will post back here after then
     
    memario1214, Feb 16, 2011
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  13. Feb 16, 2011 at 7:44 PM
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    06ToyTaco

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    Null Hypothesis is that proportion (32/160) pay each month, while the Alternative Hypothesis is that any other proportion except 32/160 pay each month.

    Since the chance of that happening each month is so small you have a tighter/smaller interval. Therefore the intervals are so small

    I am getting
    (0.149383-0.259167) for 1 proportion test.
    (0.147985, 0.252015) for normal approximation 1-proportion test.

    Depending on which one is right (its been a while) i think that its A.

    *note* use at own risk. I do not take accountability if I am wrong :eek:.
     
    06ToyTaco, Feb 16, 2011
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  14. Feb 16, 2011 at 7:46 PM
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    TexasTacoma37

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    TexasTacoma37 Well-Known Member

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    I hope that what you picked Colton! :rofl:
     
    TexasTacoma37, Feb 16, 2011
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  15. Feb 16, 2011 at 7:46 PM
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    06ToyTaco

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    06ToyTaco Well-Known Member

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    basically :D. It's been a while since I took the course so i'm right there with you; but with the help of minitab, its easy as pie :eek:
     
    06ToyTaco, Feb 16, 2011
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  16. Feb 16, 2011 at 7:47 PM
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    TexasTacoma37

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    TexasTacoma37 Well-Known Member

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    Oh god...minitab! Stop it you are going to give me nightmares :laugh:
     
    TexasTacoma37, Feb 16, 2011
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  17. Feb 16, 2011 at 8:04 PM
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    memario1214

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    memario1214 [OP] Hotshot Offroad Moderator Vendor

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    That actually is NOT the one I picked... For it was wrong lol. Typing up answer now
     
    memario1214, Feb 16, 2011
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  18. Feb 16, 2011 at 8:06 PM
    #18
    TexasTacoma37

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    TexasTacoma37 Well-Known Member

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    :popcorn:
     
    TexasTacoma37, Feb 16, 2011
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  19. Feb 16, 2011 at 8:08 PM
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    06ToyTaco

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    :popcorn:
     
    06ToyTaco, Feb 16, 2011
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  20. Feb 16, 2011 at 8:11 PM
    #20
    memario1214

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    memario1214 [OP] Hotshot Offroad Moderator Vendor

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    My equation p±z√(p(1-p)/n) where
    p=32/160=.2
    z for 90% confidence=1.645
    n=160

    .2±1.645√(.2(1-.2)/160)

    therefore 0.148 to 0.252

    I got a shit ton of other ones wrong though so it really doesn't matter...FML
     
    memario1214, Feb 16, 2011
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