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A study of 25 graduates of four-year colleges by the American Banker's Association revealed the mean amount owed by a student in student loans was $14,381. The standard deviation of the sample was $1892. Construct a 90 percent confidence interval for the population mean. Is it reasonable to conclude that the mean of the population is actually $15,000? Tell why or why not.
Use α =.01 and test for a significant difference. What is your conclusion?
The manufacturer of the ColorSmart-5000 television set claims that 95 percent of its sets last at least five years without needing a single repair.
We can compare two sample means to determine if the samples were obtained from normal populations with the same mean using the "t" distribution.
A previous study of nickels showed that the standard deviation of the weight of nickels is 150 milligrams.
Given length an athlete throws a hammer is a normal random variable with mean 50 feet and standard deviation five feet, what is the probability he throws it: Between 50 feet and 60 feet.
Twenty-five samples of size 4 resulted in statistics of x=30.0 minutes and R = 2.5 minutes for the company to completely clean a rug. Compute control limits for x- and R-charts and estimate the standard deviation of the process.
Find a peer-reviewed article that provides an example of a study where the researchers utilized a one sample chi-square OR a two sample chi-square. Briefly describe the study and discuss its findings in your own words.
According to Advertising Age, average base salary for women working as copywriters in advertising firms is higher than average base salary for men. The average base salary for women is $67,000 and the average base salary for men is $65,500 (Workin..
In a standard normal dist. what is the prob. of getting a value less than 1.63? How about between 1.13 and 1.86? How about greater than .58?
Two mating parts have critical dimensions x1 and x2 as shown below. Assume that x1 and x2 are normally distributed with means 1 and mean2 and standard deviations s1 = 0.400 and s2 = 0.300.
A medical school claims that more than 28% of its students plan to go into general practice. It is found that among a random sample of 130 of the school's students, 32% of them plan to go into general practice. Find the P-value for a test of the s..
Perform an exponential smoothing forecast with α=0.3 with the following data. Use the demand for the month of January for the initial forecast.
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