Describe the test of significance for large sample. In a sample of 1200 people, exactly 690 are in education profession and rests are business person. Can we claim that business and education both are equally acceptable in this society? Give your conclusion at (i) 1% level of significance and (ii) 5% level of significance. 2.(a) Show that the significant value of t at level of significance ߙ for one-tailed test is equal to that of t at 2ߙ significance level for two-tailed test. (b) It is a common experience that the volatility (measured in terms of variance) of a financial market strategy is less than 0.25. Define the null and alternative hypothesis for testing your faith on this strategy. Perform a test at 1% level of significance to check the precision of a good undergoing this strategy. Following are the prices (in rupees) of a particular good: 2.9, 3.1, 3.2, 2.8, 2.7, 3.4, 2.6, 3.0, 3.3, 2.9, 2.8, 3.5 3.Let ܺX is uniformly distributed random variable with probability density function given as: f(x)= {1/2a -a1)=1/3 b)P(|X|<1)=P(|X|>1) 4.There are ten urns of which each of three contain 1 white and 8 black balls; each of other three contains 9 white and 1 black balls, and of the remaining four each contains 5 white and 5 black balls. One of the urns is selected at random and a ball taken blindly from it and it turns out to be white. What is the probability that an urn containing 1 white and 9 black balls was selected?
1. Describe the test of significance for large sample. In a sample of 1200 people, exactly 690 are in
education profession and rests are business person. Can we claim that business and education
both are equally acceptable in this society? Give your conclusion at (i) 1% level of significance
and (ii) 5% level of significance.
2.(a) Show that the significant value of t at level of significance ߙ for one-tailed test is equal to that
of t at 2ߙ significance level for two-tailed test.
(b) It is a common experience that the volatility (measured in terms of variance) of a financial
market strategy is less than 0.25. Define the null and alternative hypothesis for testing your faith
on this strategy. Perform a test at 1% level of significance to check the precision of a good
undergoing this strategy. Following are the prices (in rupees) of a particular good:
2.9, 3.1, 3.2, 2.8, 2.7, 3.4, 2.6, 3.0, 3.3, 2.9, 2.8, 3.5
3.Let ܺX is uniformly distributed random variable with probability density
f(x)= {1/2a -a<x<a}
{0 otherwise}
Determine ߙ for the following cases:
a) P(X>1)=1/3
b)P(|X|<1)=P(|X|>1)
4.There are ten urns of which each of three contain 1 white and 8 black balls; each of other
three contains 9 white and 1 black balls, and of the remaining four each contains 5 white and 5
black balls. One of the urns is selected at random and a ball taken blindly from it and it turns out
to be white. What is the probability that an urn containing 1 white and 9 black balls was selected?
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