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You are awaiting your tax return and the time at which the mailman delivers the mail to your home follows a normal distribution with a mean time of 2:00pm and a standard deviation of 15 minutes. What is the probability that the mail will arrive later than 2:30pm?
Construct a 95 percent confidence interval for the true mean.
Explain what a Chi-Squared Test is used for and give an example how you could possibly use this test. What is an ANOVA test? Create an example where this test could be used.
A brand name has a 60% recognition rate. If the owner of the brand wants to verify that rate by beginning with a small sample of 10 randomly selected consumers, find the probability that exactly 6 of the 10 consumers recognize the brand name.
A diet is being developed which must contain at least 100 mg of vitamin C. Two fruits are used in this diet. Bananas contain 30 mg of vitamin C and Apples contain 20 mg of vitamin C. The diet must contain at least 100 mg of vitamin C. Which of the..
The probability is 90% that the sample percentage is contained within what symmetrical limits of the population percentage?
Suppose that you are the director of table game operations at a large casino, known especially for its poker room. You are interested in determining the average number of hands the casino should expect per hour during peak hours in the poker room.
At the .05 significance level, is there a difference in the mean number of miles traveled per month between Cincinnati and Pittsburgh employees? Use the five-step hypothesis-testing procedure.
The probability that house sales will increase in the next 6 months is estimated to be 0.25. The probability that the interest rates on housing loans will go up in the same period is estimated to be 0.74. The probability that house sales or intere..
Then, give two examples of correlation which are evaluated in a business environment and discuss the decision made by evaluating the correlation.
The sample information is reported below. At the .10 significance level can we conclude that there is a difference in the amounts quoted?
At a local university, sample of 49 evening students was selected in order to determine whether the average age of evening students is significantly different from 21. The average age of students in the sample was 23 with a standard deviation of 3..
For the population with mean of (u)=50 and standard deviation of (o)=10, how much error on average would you expect between sample mean (M) and population mean for given samples
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