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If the critical values for a statistical test are -1.96 and 1.96, determine if you would reject or fail to reject the null hypothesis in each of the following cases: (a) z=1.06 (b) z=2.06 (c) A z score beyond which 7% of the data fall in each tail.
Determine the maximum and minimum dollar amount spent per week for middle 50% of one-person households. Suppose that standard deviation is$5 and variable is normally distributed.
The following table lists the annual amounts of glass cullet produced by Kimble Glass Works, Inc. Determine the least squares trend equation. Estimate the amount of scrap for the year 2005
Students applying for admission to an MBA program must submit scores from the GMAT test, which includes a verbal and a quantitative component.
Use differential to approximate square root of 16.3
Suppose that you have a bag filled with 50 marbles, 15 of which are green. What is the probability of choosing exactly 3 green marbles if a total of 10 marbles are selected?
Use expected collision claim amount to find out the collision insurance premium that would permit the company to break even on collision portion of policy.
A supervisor has noticed that sales for all departments world wide has been averaging $12,000 a month for a number of years. For the last 18 review periods the average sales figure has dropped to $11,500 with a standard deviation of $4,000. Manage..
a) Set up the null and alternative hypotheses, and perform the hypothesis test. b) Does the jury selection system appear to be fair?
A person decides to take a telephone survey of 40 families in the 721-exchange area (sometimes referred to as prefix). You want an excellent representation of all subscribers in the exchange area.
What is the importance of pretesting questions and instruments? What are risks of not doing this? Provide an example
A raffle offers a first prize of $1000 2 second prizes of $300 and 20 third prizes of $10 each. If 15000 tickets are sold at 75 cents each, find the expected winnings (IN CENTS) for a person buying one ticket?
A decision maker is working on a problem that requires her to study the uncertainty surrounding the payoff of an investment. There are three possible levels of payoff -$1,000, $5,000, and $10,000.
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