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The National Highway Association is studying the relationship between the number of bidders on a highway project and the winning (lowest) bid for the project. Of particular interest is whether the number of bidders increases or decreases the amount of the winning bid.
a. Determine the regression equation. Interpret the equation. Do more bidders tend to increase or decrease the amount of the winning bid?b. Estimate the amount of the winning bid if there were seven bidders.c. A new entrance is to be constructed on the Ohio Turnpike. There are seven bidders on the project. Develop a 95 percent prediction interval for the winning bid.d. Determine the coefficient of determination. Interpret its value.
11.9% reported they were in fair or poor health, including 10.5% of the married people, 19.6% of widows, 16.7% of divorced or separated, 12.5% of those never married, and 14% of those living with an unmarried partner.
A sample of 20 pages was taken without replacement from the 1,591-page phone directory Ameritech Pages Plus Yellow Pages.
Suppose a statistician chose to test a hypothesis at sigma = 0.01. The critical value for a right-tailed test is +2.33. If the test value were 1.97, what would the decision be?
An economist wishes to estimate the average family income in a certain population. The population standard deviation is known to be $4,500, and the economist uses a random sample of size = 225.
As part of a safety check, the Keystone Cops randomly stopped 65 ambulances and checked their tire pressure. The sample mean was 32 lbs/sq. in. with a sample standard deviation of 2 lbs/sq. in. Find the 98% confidence interval for the population m..
You're considering an investment in the common stock of Crisp Cookware. The stock is expected to pay a dividend of $2 a share at the end of the year (D1 = $2.00). the stock has a beta equal to 0.9.
Two cards are drawn without replacement from a pack X measures hearts drawn and Y measures clubs drawn, both are random variables.
The data show that 48 of the doctors picked Brand X. If these data are evaluated using a chi-square test for goodness of fit, what is the expected frequency for Brand X?
Set a value for the level of significance to be used in the test? After answering this question, what type of error would you suppose may result in that case?
Find the 90% confidence interval estimate of the population mean. Interpret the interval estimate. 79 43 58 66 101 63 79 33 58 71 60 101 74 55 88.
Minutes of activity for lean people gad N(526, 107). Withink what limits do active minutes for about 95% of people in each group fall? Use the 68-95-99.7 rule.
In checking the quality of the work, she notices that some slight blemishes occasionally are apparent. A sample of 20 pieces of work resulted in the following number of blemishes on each piece:
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