True or False and why? b) (5 points) The Dubai General Hospital generally expects 30 patients per

True or False and why?

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b) (5 points) The Dubai General Hospital generally expects 30 patients per day who require urgent care, on average. However, in the past 64 days, the data shows that there are on average 45 urgent cases per day, with a standard deviation of 40. The number of urgent cases has significantly deviated from the hospital's expectation, at the 5% significance level. c) (5 points) In a vaccine trial, we tested the efficacy of a vaccine to provide immunity over 1000 participants. Comparing the treatment group (i.e., receiving the vaccine) to the control group (i.e., receiving a placebo), we find a difference in immunity with a p-value of 1%. The regulator allows a maximum risk of incorrect rejection (of the null hypothesis) at 10%. The vaccine should not be approved unless a larger sample is tested. d) (5 points) If the "sales of baby clothes" correlates highly with the "number of births" across various countries, it is likely that the consumption of baby diapers is caused/driven by newborn babies. e) (5 points) You are provided with an investment opportunity A with an expected total return of 5% within 1 year and a standard deviation of 5%. Another investment opportunity B has an expected total return of 10% within 1 year and a standard deviation of 20%. If your objective is only to minimize the probability of losing money (i.e., having a negative return), both investment opportunities are equivalent. f) (5 points) You have access to sales data of 1000 stores of a Fortune Global 500 company. You wish to study if there exists a significant change in overall sales in the year 2020 compared with the year 2019. To simplify the analysis, you randomly choose 20 stores and conduct a two-sample hypothesis test comparing overall sales in 2020 with overall sales in 2019 for these stores. To ensure the result is reliable, you should repeat this process 100 times and take the smallest p-value as your final p-value. b) (5 points) The Dubai General Hospital generally expects 30 patients per day who require urgent care, on average. However, in the past 64 days, the data shows that there are on average 45 urgent cases per day, with a standard deviation of 40. The number of urgent cases has significantly deviated from the hospital's expectation, at the 5% significance level. c) (5 points) In a vaccine trial, we tested the efficacy of a vaccine to provide immunity over 1000 participants. Comparing the treatment group (i.e., receiving the vaccine) to the control group (i.e., receiving a placebo), we find a difference in immunity with a p-value of 1%. The regulator allows a maximum risk of incorrect rejection (of the null hypothesis) at 10%. The vaccine should not be approved unless a larger sample is tested. d) (5 points) If the "sales of baby clothes" correlates highly with the "number of births" across various countries, it is likely that the consumption of baby diapers is caused/driven by newborn babies. e) (5 points) You are provided with an investment opportunity A with an expected total return of 5% within 1 year and a standard deviation of 5%. Another investment opportunity B has an expected total return of 10% within 1 year and a standard deviation of 20%. If your objective is only to minimize the probability of losing money (i.e., having a negative return), both investment opportunities are equivalent. f) (5 points) You have access to sales data of 1000 stores of a Fortune Global 500 company. You wish to study if there exists a significant change in overall sales in the year 2020 compared with the year 2019. To simplify the analysis, you randomly choose 20 stores and conduct a two-sample hypothesis test comparing overall sales in 2020 with overall sales in 2019 for these stores. To ensure the result is reliable, you should repeat this process 100 times and take the smallest p-value as your final p-value.

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The detailed answer for the above question is provided below b True The average number of urgent cas... View the full answer