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The monthly incomes of a group of 10,000 persons were found to be normally distributed with mean equal to 15,000 and standard deviation equal to 1000. What is the lowest income among the richest 250 persons?
How should he go about taking samples to gather data for testing the hypotheses?
Compute a 95% confidence interval for the population mean, based on the sample 25, 27, 23, 24, 25, 24 and 59. Change the number from 59 to 24 and recalculate the confidence interval.
Using Microsoft Excel, create a correlation analysis of Wal-Mart's annual net income over the past 10 years compared with Sears's annual net income over the past 10 years and interpret the results.
Find the average weight in pounds of a type of bird of your choice. Use the rational exponent equation L = 2.43 * W^0.3326 to estimate the wingspan L in feet of the bird that weighs W pounds (Rockswold, 2006).
What is a probability notation? What are the advantages and disadvantages of using a probability notation? How does probability notation aid in decision making?
What is the probability that the sample mean will be greater than M = 510. In symbols, what is p (M>510)?
Choose a group of 4 adults at random. What is the probability that none of them enjoy drinking beer?
National average for 2-year leases is 30,000 miles. Select the suitable hypothesis.
You will be graded on accuracy, completeness (addressing each point above), and effectiveness (utility, ease of reading).
Is there evidence of difference in median performance between two methods? (Use α = 0.05.)
You own a $46,000 portfolio comprised of four stocks. The values of stocks A, B, and C are $5,600, $16,700, and $11,400, respectively. What is the portfolio weight of stock D?
Provide a discussion that supports the assumption that the variance of savings increases with family income.
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