1. How are two populations compared for independent and dependent samples?
Technically, two samples are recognized to be independent if the value of the sample selected from one population has no relation or matched or somehow related to the sample value selected from other different population. Two samples consist of matched pairs(dependent)if the member of one sample has the capability of being used to identify the members of another different sample.
One question that can be raised is that is fishing better from a boat or from the shore? Pyramid Lake is in Nevada. Presidents, movie stars, and individuals who need to catch fish move to pyramid lake to get a large trout. Let Row B be a representation on hours fishing per fish from the show and let Row A show representation of hours fishing per fish is represented using a boat. The provided data are paired by month just from April through the provided period to October.
The word paired is clear indication that the samples in this question are matched/dependent. The data of hours taken to fish per fish from the shore and the total numbers of hours fishing per fish using a boat are matched by month/ paired.
2. What is the difference in average daily hotel room rates between Minneapolis and New Orleans?
Suppose we want to estimate this difference by taking hotel rate samples from each city and using a 98% confidence level. The data for such a study follow. Use these data to produce a point estimate for the mean difference in the hotel rates for the two cities. Assume the population variances are approximately equal and hotel rates in any given city are normally distributed
MINNEAPOLIS NEW ORLEANS nM = 22 nNO = 22 xM=$112 xM=$112 xNO=$122 xNO=$122 sM = $ 11 sNO = $ 12
Minneapolisn = 22average = $112s = $11
New Orleansn = 20average = $122s = $12
3. If you represent an American company wanting to do business in Japan, what are some points from this study that might guide you in your endeavor?
with the current technological development and globalization in general, conducting business in a different country is becoming one profitable venture and a general measure of growth and development. For one to effectively manage a good business in another country, it is important to note that making an observation on the etiquette of various cultures is one open door in facilitating a more successful business. This is specifically significant when managing a business in Japan where the cultural element is having a serious effect on the effectiveness of a business relationship and decision making in general (Kobayashi et al.2015). Since Japan and America has a great difference in cultural barriers, it is important to note that one is supposed to master the Japanese regulations and culture so as to effectively manage their business. Comparatively, doing business between the United States and Japan create a sense of serious differences since Japan is identified is an example of a country with a code of social conduct and a land that is controlled by paramount law.
4. What did you learn about EU banks in this study that may set them apart from United States banks?
Generally, United States banks are now working on making preparation for the contingency that the overall right of selling financial services and products from Britain to European Union clients could entirely or partially be destroyed. However, based on the past performance, a large difference in the bank profitability has been realized with both European banks and the United States reporting serious record on the general profit levels. On the other hand, United States banks have been benefiting from a stable profit that is significantly more than the pre-crisis level(Hickman,& Silva, 2018). The EU banks on the other side have not recovered from the decline in EU debt crisis and the 2008 slump. The loan growth has finally returned in the United States, specifically on the corporate lending which has been the weakest spot in Europe.
5. What is the advantage of using ANOVA to test for differences among treatment means rather than testing all possible pairs of treatment means?
ANOVA is identified as the main statistical methods that are in place to make a simultaneous comparison between two or various means. Therefore, in multiple t-tests that will end up resulting into a general chance of more than two groups. Type 1 error normally take place when the null hypothesis(Ho) is correct but at one point not accepted. For example if one is using four group(A, B,C,D) and make a comparison on that one will get six result for example( A,B,C,D) D,B vs A vs C,A vs B,A-C,B vs D vs D,C). Technically, the existing probability of not achieving an important result is 1-(1-0.05) ^6=0.265.
The existing fact that ANOVA is capable of testing more than one treatment is a significant advantage over various statistical analysis, for example, the t-test. ANOVA is a significant test since it enables an individual to realize for example how efficient various types of treatment are operating and how durable they are.it is very interesting that a NOVA has the power of telling us how well a treatment is working, how budget friendly it will be, how long the test will take with an example being an intensive early behavioral intervention for autistic children which to some extent is taking a long period of time with amazing result and it actually costing serious money. Conducting the test will create an opportunity that will play an important role in building the concurrent validity for the therapy against EIBI (Keppel & Wickens,2004). In a study that has more than two conditions, it is necessary for an individual to make use of the ANOVA. The t-test is less daunting and very simple more so when one is experiencing 2x4x5 factorial.
Hickman, C. R., & Silva, M. A. (2018). Creating excellence: Managing corporate culture, strategy, and change in the new age. Routledge.
Keppel, G., & Wickens, T. D. (2004). Simultaneous comparisons and the control of type I errors. Design and analysis: A researcher's handbook. 4th ed. Upper Saddle River (NJ): Pearson Prentice Hall. p, 111-130.
Kobayashi, T., Collet, C., Iyengar, S., & Hahn, K. S. (2015). Who deserves citizenship? An experimental study of Japanese attitudes toward immigrant workers. Social Science Japan Journal, 18(1), 3-22.
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