MID SEMESTER ASSIGNMENT
ANSWER ALL QUESTIONS
QUESTION 1
a) The Ghana Economic Management Association wishes to have information on the mean
income of store managers in the retail industry. A random sample of 256 managers reveals a
sample mean of Ghc45,420. The standard deviation of this population is Ghc2,050. What is a
reasonable range of values for the population mean? Interpret your results. (5marks)
b) i. Briefly outline the steps involved in hypothesis testing (3marks)
ii. Use a table to illustrate how Type I and Type II error can occur (2marks)
c) State one use for each of the following (2marks)
i. The F distribution
ii. A one-way ANOVA
d) State three assumptions of ANOVA (3marks)
QUESTION 2
The following sample observations were randomly selected
X
10
Y
7
4
5
3
6
4
6
5
7
a) Determine the correlation coefficient and interpret the relationship between X and Y. (5marks)
b) Determine the regression equation
(6marks)
c) Determine the value of when X is 7.
(2marks)
d) State two uses of goodness-of-fit test
(2marks)