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I would like some detailed stepwise assistance with the following Inference for Population Variances / Standard Deviations exercise please to explain each step 1. Your
I would like some detailed stepwise assistance with the following Inference for Population Variances / Standard Deviations exercise
please to explain each step
1. Your friend, Serena, is an angel investor who is interested in relatively young companies. However, she will only invest in a company if the standard deviation of the weekly profit is less than $1500. Serena is considering investing in IProds Limited and the summary data for the weekly profit for a random sample of 56 weeks is presented below. Descriptive Statistics N Minimum Maximum Mean Std. Deviation Profit 56 1861.00 7451.00 4110.4286 1208.58276 Valid N (listwise) 56 Normal Q-Q Plot of Profit Expected Normal Value 600 2800 3.000 4,500 Observed Value a) Using an appropriate method, estimate the standard deviation of the weekly profit for this company with 90% confidence. b) Using Serena's criteria, conduct the appropriate analysis to determine if she should invest in IProds Ltd. You may assume that the p-value for this test is 0.02029. c) Based on the information provided, do you have any concerns about the inferential method you used? WhyStep by Step Solution
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