A local university administers a comprehensive examination to the recipients of a B.S. degree in Business Administration. A sample of 5 examinations is selected at random and scored. The scores are shown below.
a.Compute the sample mean and the standard deviation.
b.Determine the margin of error at 95% confidence.
c.At 95% confidence, determine an interval for the mean of the population.
At 98% confidence, determine an interval for the mean of the population.
Definitions:
First-Order Regression
A linear regression analysis that involves a single independent variable to predict the outcome of a dependent variable.
Unit Increase
A one-unit increment in the value of an independent variable in a mathematical function or experiment.
First-Order Model
A mathematical or statistical model that represents linear relationships between variables using first-degree equations.
Unit Increase
It refers to the increment by a single unit in the independent variable and observing the effect on the dependent variable.
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