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A fast food franchiser is considering building a restaurant at a certain location. According to a nancial analysis, a site is acceptable only if the number of pedestrians passing the location averages more than 100 per hour. A random sample of 50 hours produced x = 110 and s = 12 pedestrians per hour.
a. Do these data provide suffiient evidence to establish that the site is acceptable? Use = 0:05.b. What are the consequences of Type I and Type II errors? Which error is more expensive to make?c. Considering your answer in part (b), should you select to be large or small? Explain.d. What assumptions about the number of pedestrians passing the location in an hour are necessary for your hypothesis test to be valid?
Suppose you went to the Bureau of Labor Statistics web site and found several predictors of your salary. State three possible predictors and a simulated multilinear regression equation along with their p-values.
Of the drivers who stop at a gas station, 92% purchase gasoline, and 6% purchase both gasoline and oil. A total of 7% purchase oil.
What is the probability of this project being completed earlier than 19 days?
If the bid is accepted , the company will make $36000 minus the cost of the bid. What is the expected value in this situation?
What is the probability of either X or Y occurring? What is the probability that neither X nor Y will happen?
A sample of n=20 has a mean of M=40. If the standard deviation is s=5, would a score of x=55 be considered an extreme value?
To compile the record chart it is necessary to know the correct average weekly sale to within 1% of its true value. How large a sample size is required?
Computing a linear regression equation to predict the future values of the dependent variable Y - Linear relationships into a single multiple regression.
What is the distinction between distribution-free methods and nonparametric methods?
In government data, a household consists of all occupants of a dwelling unit, while a family consists of two or more persons who live together and are related by blood or marriage. So all families form households, but some households are not famil..
Estimate with 90% confidence the difference in the level of satisfaction with service between the two branches.
The quality control department of Widgets Manufacturing needs your help. They can't decide which significance level is appropriate for testing the claim that fewer than 50% of widgets from a production run are defective.
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