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A retailer store sales onle two styles of stereo consoles, and experiences shows that these are in equal demand. Four customers in succession come into the store to order stereos. The retailer is interested in their preferences.
a. List the possibilities for preference arrangements among the four customers.b. Assign probabilities to the sample points.c. Find the probability that all four customers prefer the same style.
Post-hoc fallacy is that condition where regression shows a high degree of correlation (R square is high), but there is no real cause-effect relationship between the independent and dependent variables.
A physician wanted to estimate the mean length of time µ that a patient had to wait to see him after arriving at the office.
A population whose shape is unknown has a median of 75. You selected a sample of 40. The standard deviation of the median is 5. Calculate the probability that the median of the sample or average medians is:
What is the stock's value at it's highest on 15 days of the year? (Assume that there are 240 trading days in a year).
Construct a frequency distribution and construct a histogram for the following data and use seven intervals, starting with 30-39.
Two models of a product - Regular (X) and Deluxe (Y) - are produced by a company. A linear programming model is used to determine the production schedule.
Think about a real life situation that follows a linear equation, with the independent variable being years. What would the slope tell you about future years?
No estimate of the population proportion is available. How large a sample is required?
A sample of 160 workers in the downtown area classified each worker by race. A bar graph of the results is given below, but the bar for black workers in the graph below has been omitted.
As a test the truck company purchases a random sample of metal parts from Steel-R-Us, and then determines if these parts were delivered on-time. Which hypotheses should they test?
A jar contains black and white marbles. Two marbles are chosen without replacement. If the probability of selecting a black marble and a white marble is 0.34, and the probability of selecting a black marble on the first draw is 0.47,
What is the event corresponding to the above system failing during one period of operation and what is the event corresponding to the above system functioning properly during one period of operation?
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