1) If we find that the mean family size in America is 3.5 and the standard deviation is 1,

explain the meaning of the mean and the standard deviation.

2) Suppose we are conducting a two tailed hypothesis test with a level of significance of 5%. We learned that the p value is 1%. What can you conclude?

3)Suppose we conducted a survey of 100 consumers to find out how many cars they own. Our probability distribution for the number of cars consumers own is:

X: 0 1 2 3

P(x) : 0.2 0.4. 0.3 0.1

How many cars do they own and what does it tell you ?

4) An admissions officer at the University of X Business School wants to find out the ages of students entering graduate school. The average age for an entering graduate student is 28.5 years old and the margin of error is 0.33. What will be the 95% confidence interval for the true age for an entering graduate student? Briefly explain what does this 95% confidence interval mean?

5) Consider the grouped data analysis for the number of cigarettes consumers smoke weekly.

Classes f 1-5 10 610 11 11-15 ? 16-20 4 2125 2 What is the distribution of the number of cigarettes smoked weekly? What does it tell you