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You need to calculate the required sample size for estimating a population mean. Your desired margin of error is 40 and a pilot sample of 30 items indicates a sample standard deviation of 900. Determine the required sample size if the confidence level is 90%.
If we assume a normal distribution of Diastolic blood pressures, then between what two values can we be assured 99.7% of all Diastolic blood pressures will lie?
etting the significance level at a very high cutoff (such as 15%) increases chances of what type of error? Why do Type II errors concern scientists? Why have confidence levels of significance been set at 5% and 1%?
Given the following data, use exponential smoothing with a=0.2 and a=0.5 to generate forecasts for periods 2 through 6. Use MAD and MSE to decide which of the two models produced a better forecast.
Suppose a bookie will give you $6 for every $1 you risk if you pick the winner in 3 ballgames. For every $1 bet, you either lose $1 or gain $6. What is the bookie's expected earnings per dollar wagered?
Calculate a 92% confidence interval for the mean density of quartz porphyry, given that 75 samples yield mean of 2.62 grams per cubic centimeter
According to a recently conducted survey, 90% of all drivers in Trinidad and Tobago claim to consistently driver over the legal speed limit.
Out of a random sample of 33 women, 23 ranked fresh fruit in their top five snack choices. Is there a difference in the proportion of men and women who rank fresh fruit in their top five list of snacks?
Suppose that the number of cars, X, that pass through a car wash between 4:00pm and 5:00pm on any sunny Friday has the following probability distribution:
There is a fixed cost of $50,000 to start a production process. Once the process has begun, the variable cost per unit is $25. The revenue per unit is projected to be $45. Write a mathematical expression for total profit.
In a random sample of 400 employees of a local company, 180 were female. At 95% confidence using the critical value approach, determine if the proportion of females in the company is significantly less than 50%.
A mortar shell is s feet above the ground after t seconds, where s=f(t)= -16t + 510t +63. Find the height of the shell 15 seconds after it is fired.
For monthly volume of 300 tables, find out total cost, total revenue and profit.
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