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The manager of the plant supply store wishes to find out whether mean amount of paint contained in 1 gallon cans bought from a nationally known manufacturer is actually 1 gallon. You know from manufacturer's specifications that standard deviation of amount of paint is 0.02 gallon. You choose random sample of 50 cans, and mean amount of paint per 1-gallon can is 0.995 gallon.
A) Is there evidence that mean amount is different from 1.0 gallon (use α=0.01).
What is the value of the population mean? What is the best estimate of this value?
A random variable is normally distributed, with (population mean)= 300 pounds and (standard deviation) = 50 pounds. How small can a simple random sample be if the standard error of the mean can be no more than 20 pounds?
Utlizing binomial approximation to normal finding the normal model. A grower claims that only 13 percent of the strawberries he grows are unsatisfactory.
A portfolio p of consisting 60% of stock X and 40% of stock Y, has a correlation ρpM = 0.62 with the market. What is the portfolio volatility? Statement on the diversification effect.
A local tire dealer wants to predict the number of tires sold each month. He believes that the number of tires sold is a linear function of the amount of money invested in advertising.
Income Trevor is interested in purchasing the local hardware/sporting goods store in the small town of Dove Creek, Montana.
Below is a normal plot of residuals from a regression. Does the plot indicate any problems with the assumption that the residuals are Normally distributed
In a study of 24 criminals convicted of antitrust offenses, the average age was 55 years, with a standard deviation of 7.6 years. Construct a 98% confidence interval of the true mean age.
You are asked to conduct a study to determine if gender has any bearing on the choice of a dog or cat as a pet. You take a random sample of 350 adults and ask each what kind of pet they would prefer, a dog or a cat?
Determine the expected value and standard error of the sum of 400 draws?
Estimate u with an approximate 95% confidence interval. Estimate p, the proportion of measurements in the population that are greater than 30, with an approximate 95% confidence interval.
The probability of accepting a lot that is 10% defective is .677. Does that mean, then, that the probability of rejecting the lot is 0.333?
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