Answers created by Ramchandran A.

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• What are the mean and standard deviation of a binomial probability distribution with #n=130 # and #p=3/4 #?
  
• What does the confidence interval of a sample tell you?
  
• Why can't variance be negative?
  
• Why is sample size important when analyzing data?
  
• How do you determine the variance of a Poisson distribution?
  
• What defines a strong or weak correlation?
  
• What is central tendency?
  
• What is the difference between correlation and association?
  
• What does a negative covariance mean?
  
• Is there a difference between a correlation and a correlation coefficient?
  
• What is statistical significance?
  
• What is Bayes' theorem?
  
• What is Bayes' theorem?
  
• What is Bayes' theorem?
  
• What is Bayes' theorem?
  
• If the probability of events A & B occurring are P(A) = 0.3 and P(B) = 0.8, what is the probability that both A & B occur?
  
• What is a binomial distribution?
  
• Why can a binomial distribution be used to model the results of a coin toss?
  
• What is the relationship between the correlation of two variables and their covariance?
  
• What does a correlation coefficient indicate about data?
  
• What is the mathematical formula for the variance of a continuous random variable?
  
• Why is a 90% confidence interval narrower than a 95% confidence interval?
  
• The probability that a contractor will get a plumbing contract is 2/3 and the probability that he will get an electric contract is 5/9. If the probability of getting at least one contract is 4/5, what is the probability that he will get both?
  
• What is the difference between the mean, median, and mode?
  
• What is the expected value of a coin toss game where you win $2 for each heads and lose $3 for each tails?
  
• What does independent and identically distributed mean?
  
• If you roll a fair die three times, what is the probability that none of your rolls is a number divisible by 3?
  
• What does discrete mean?
  
• What can covariance be used for?
  
• What does it mean if the correlation coefficient between two variables is negative?
  
• A 28-year-old man pays $165 for a one-year life insurance policy with coverage of $140000. If the probability that he will live through the year is 0.994, what is the expected value of the insurance policy?
  
• What is the variance of 10 coin flips?
  
• Can a continuous random variable have a median?
  
• How are continuous and discrete treated differently?
  
• In a symmetric distribution, are the mean, median, and mode necessarily equal?
  
• Why is standard deviation not a measure of central tendency ?
  
• What does quantitative mean?
  
• What is a correlation?
  
• What happens to the confidence interval if you increase the confidence level?
  
• What does a 95% confidence interval versus a 99% confidence interval tell you?
  
• The 6 entries in Claudia's checkbook ledger show both deposits and withdrawals. Claudia wrote down $100, -20, -35, $250, -$150, and -85. What is the mean dollar amount for these entries?
  
• How do you calculate the expected value of a random variable?
  
• Question #50c00
  
• How does the sample variance differ from the population variance?
  
• What is the variance of a binomial distribution for which n = 75 and p = 0.20?
  
• What is the variance of {15, 14, 13, 13, 12, 10, 7}?
  
• A bin contains 71 light bulbs, of which 9 are defective. If 6 light bulbs are randomly selected from the bin without replacement of the selected bulbs, what is the probability that all of the selected bulbs are good?
  
• What is the purpose of hypothesis testing in statistics?