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A consumer survey indicates that the average household spends m=$155 on groceries each week. The distribution of spending amounts is normal with a standard deviation of o=$25. Based on this distribution
a) What proportion of the population spends more than $150 per week on groceries?
b) What is the probability of randomly selecting a family that spends less than $110 per week?
c) How much money do you need to spend each week to be in the top 10% of spenders?
Given that this sample is extremely large, can the responses be considered to be representative of the population of the United States? Explain.
If someone had x=2 job changes, what does the least squares line predict for y, the annual salary?
Develop an appropriate forecast model for the given problem whereas the student population has remained constant during this period.
Management plans to sample 150 packages per week. What is the appropriate control chart?
In this table, my research is about the average amount of money people expect to spend on attomeys when they are injured. Is there a difference, depending on type of injury? Do people expect to spend more when the injury happened in a car, on job,..
Why do we do power calculations with single sample z test? A) Because we can use Z area tables to calculate the power. B) Because comparing a sample mean against a population mean is very powerful
Compute fraction of the employees cost between $1,500 and $2,000 per year? Evaluate percent that didn't have any dental expense.
In a group of seven adult friends, what is the probability that: a) no one has done a one-time fling?
A month of sales data are collected on sales of different types of computer products Run the t-tests to determine:
The budgeting process for a Midwestern college resulted in expense forecasts for the coming year (in $ millions) of $9, $10, $11, $12, and $13. Since the actual expenses are unknown, the following respective probabilities are assigned: .3, .2, .25..
lowering the price does not decrease this behavior and we should not decide to lower prices based on this research." Comment on the executive's conclusion. What type of inference is being made? Will the decision not to lower prices be a good one.
Categorize the events as dependent or independent. Events A and B where P (A) = 0.7, P (B) = 0.8, and P (A and B) = 0.56.
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