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In order to estimate the average electric usage per month, a sample of 196 houses was selected, and the electric usage determined.
a. Assume a population standard deviation of 350 kilowatt hours. Determine the standard error of the mean.b. With a 0.95 probability, determine the margin of error or standard error.c. If the sample mean is 2,000 KWH, what is the 95% confidence interval estimate of the population mean?
The breaking strengths of cables produced by a certain manufacturer have a standard deviation of 82 pounds. A random sample of 150 newly manufactured cables has a mean breaking strength of 1950 pounds.
Marketing firm asked the random set of married and single men as to how much they were eager to spend for vacation. At alpha= .05, is a difference in two amounts?
Listed below are weights in grams from a sample of these bats. Construct a 95% confidence interval estimate of their mean weight.
Wall Street securities firms paid out record year-end bonuses of $145,500 per employee for 2005 (Fortune, February 6, 2006). Suppose we would like to take a sample of employees at the Jones & Ryan securities firm to see whether the mean year-end b..
The trend line y = 0.70 + 0.005t was calculated from quarterly data for 1999 -2003, where t = 1 for the first quarter of 1999. The seasonal indexes computed from the trend line for the four quarters of the year 2004 were .85, 1.05, 1.15, and .80, ..
A study of 200 commercial firms revealed the data below. What is the probability that a particular firm will have 1 million or more in income after taxes?
Two teams of workers assemble automobile engines at a manufacturing plant in Michigan. Quality control personnel inspect a random sample of the teams assemblies and judge
With a major expansion planned, Judy projects sales next year to increase to 1,200 radials. What will the demand be each season? Please show work (formulas).
Given the following revenue and cost function for a business firm, calculate the break-even quantity, total revenue, total cost and total profit at break-even level of production.
Let independent variable x represent years since 1950. Determine quadratic regression model for per capita cigarette consumption.
A sample of 25 concession stand purchases show a mean purchase of $5.29 with a standard deviation of $3.02. However, a later showing of the same movie, a sample of 25 purchases where the mean was $5.12 with a standard deviation of $2.14.
Passengers using New York's MetroCard system must swipe the card at a rate between 10 and 40 inches per second, or else the card must be re-swiped through the card reader. Research shows that actual swipe rates by subway riders are uniformly distr..
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