STAT 1221: Elements of STAT I

Discover how to calculate the 95% confidence interval for a population proportion using sample data. Through a practical example about texting habits among American teens, learn the implications of this statistical tool and how to assess plausibility.

Unpack the average US gasoline prices in December 2010 using Chebyshev’s Inequality. Discover the minimum percentage of gas stations within specific price deviations. Learn how prices ranged based on standard deviations from the mean.

Explore a statistical approach to analyze the claim about average tornado lengths. Understand the nuances of hypothesis testing, from setting null and alternative hypotheses to interpreting P-values. Witness a comprehensive breakdown of the evidence from a sample of 500 tornadoes.

Analyze the relationships between different political affiliations and age groups. Determine whether certain events are independent, mutually exclusive, or neither, based on the provided probabilities. The findings offer a nuanced understanding of voter demographics and their interdependencies.

Discover the mathematical principles behind choosing free samples in online shopping scenarios. Understand combinations, how to calculate them, and see real-world examples of selecting multiple items.

Compare the mean returns and volatilities of two stocks using t-test and F-test methods. Through the application of hypothesis testing and P-value calculations, we determine which stock provides higher returns and which is riskier.