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Assume that we will arbitarily choose sample of 64 from population having mean equal to 20 and standard deviation equal to 4.
Explain shape of sampling distribution of sample mean x. Do we require to make any suppositions about shape of the population?
Determine the mean and standard deviation of sampling distribution of the sample mean x
Compute the probability which we will get the sample mean greater than 21; which is , compute P(x > 21).
Compute the probability that we will get the sample mean less than 19.385; that is, compute P(x < 19.385).
A general contractor is considering purchasing lumber from one of two different suppliers. A random sample of 12 "2x4's" of a certain length of each board is measured.
Critically illustrate out the limitations of seasonal forecasting? Provide examples.
Employees of a local university have been classified according to gender and job type.
A chance sample of 50 families revealed an average or median of $112,000 and a standard deviation of $40,000. What is the standard error of the average or median?
An Auditor of a small bsuiness has sampled 50 of 700 accounts. The sample mean total receivables is $435, and the sample standard deviation is $86. Find a 95% confidence interval for the total amount of receivables.
By using.02 level of significance, carry out a 5-step hypothesis testing procedure to find out if new processes considerably reduced the wait time.
Perform a linear regression, 8 month moving average & 3 month moving average forecasting technique to see which is most accurate for the new quarter 11 if quarter 11 sales are 172,000 units
A researcher wished to estimate the number of households with two cars. How large a sample is needed in order to be 95% confident that the sample proportion will not differ from the true proportion by more than 4%.
According to the National Football League, the average salary for players for the 2010 season was about $1.9 million while the median salary is around $770,000. Why are both numbers reported? What might the difference between the two statistics me..
This includes knowing how to use an ANOVA for managerial decisions. Present a business example where you would use an ANOVA. State the hypothesis verbally and numerically.
These predictions, however, are not very accurate. Discuss at least three reasons why these predictions may not be accurate and offer three ways in which you can increase the likelihood of accurately predicting your customers' purchases.
Given that the mean of all 102 atomic numbers is 51.794, and the population standard deviation is 29.804, what is the probability that the mean of the 40 atomic numbers selected by the student will be at least 57.3?
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