STAT 1051: Introduction to Business and Economic Statistics

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.

Explore the intricacies of calculating probabilities using set theory concepts such as union and intersection. With step-by-step computations, understand how to find the likelihood of events A and B occurring or not occurring together. Witness the application of classic probabilistic formulas.

Analyze Delaware's per capita annual income using statistical methods. Understand the probabilities associated with various income levels for a sample of state residents. Learn to use the Z score formula for such evaluations.

Explore the mathematical intricacies behind calculating the waiting time for a motorist at traffic lights. Learn about normal random variables, conditional probabilities, and the challenges in determining specific waiting durations.

Explore the concept of assortative mating through an eye-color study of 204 Scandinavian couples. Discover how probabilities highlight nonrandom mating patterns. Conclude if eye colors of partners are independent or reveal assortative tendencies.

Discover how to determine the probability and mean of young adults watching TV in a week. Using provided data, we compare the sample mean with the calculated population mean to interpret expected TV viewing habits.