Bob Powers, a consulting electrical engineer, is offered two different jobs. Abbott Industries has a project that pays $52 per hour and will take 35 hours to complete. Micro Systems has a project that pays $44 per hour and will take 45 hours to complete. Which offer has a greater gross income and by how much?
Lecture 1.1 and 1.2; focus on concept application and less memorization. Word bank: - subjects: participants in a study. - association: word used in observational study. - Cause and effect: term used in experiment study. - Response variable: outcome of interest. - Confounding variable: other variable one is not aware of but they effect the study. They are also additional factors that can affect your study. - Blind and double blind studies - Control group - Panel bias - Historical control - Anecdotal evidence, observational study, and experimental study. I.) Why study statistics A. It is important because it organizes data minimizing uncertainty and variability in data sets. B. Important statistic concepts for studies. i. Blind study: a study in which the subjects participating are unaware of whether they are receiving the placebo or experimental medication. It is done in order to hinder the subjects from influencing the outcome. ii. Double blind study: a study in which the subjects are unaware of whether they are receiving the placebo or experimental medication. In addition, the experimenters are unaware of which treatments they are giving. It is done in order to hinder the subjects as well as the researcher from influencing
