Sunday, August 25, 2019

Final Statistics Project Example | Topics and Well Written Essays - 1500 words

Final - Statistics Project Example The probability that the 100 randomly selected apples have a mean weight less than 12.5 ounces is about zero. In other words, it is highly unlikely that the 100 randomly selected apples have a mean weight less than 12.5 ounces. 18. A pharmaceutical company has developed a screening test for a rare disease that afflicted 2% of the population. Unfortunately, the reliability of this test is only 80%, which means that 20% of the tested will get a false positive. If a subject is tested positive based on this test, what is the probability that he has the disease? Benfords law, also called the first-digit law, states that in lists of numbers from many (but not all) real-life sources of data, the leading digit is distributed in a specific, non-uniform way shown in the following table. The owner of a small business would like to audit its account payable over the past year because of a suspicion of fraudulent activities. He suspects that one of his managers is issuing checks to non-existing vendors in order to pocket the money. There have been 790 checks written out to vendors by this manager. The leading digits of these checks are listed as follow: 19. Suppose you are hired as a forensic accountant by the owner of this small business, what statistical test would you employ to determine if there is fraud committed in the issuing of checks? What is the test statistic in this case? Two different simple random samples are drawn from two different populations.   The first sample consists of 20 people with 10 having a common attribute.   The second sample consists of 2000 people with 1404 of them having the same common attribute. I do not come up with the same conclusion for Question 21. This is because in case of Question 21, we estimate the common population proportion using pooled proportion and in case of this question, we estimate the population proportions using sample proportions. Thus,

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