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Suppose that 60% of adults in the population prefer coffee over tea. If you take a random sample of 100 adults, what's the probability that less than 50% of the adults sampled prefer coffee? Write answer in decimals using 4 digits precision.
A pharmaceutical company has determined that if a new cholesterol-reducing drug is manufactured (introduced to the market) the following probability distribution will describe this drug's contribution to the company profits during the next six mon..
A biologist had mice and rats run through a maze and recorded the number that finished the maze successfully and the number that did not. This table lists the results of the study.
Derive the standard error of proportion, the margin error and the 95% confidence interval for the proportion indicating preference to flirting.
The mean of a normal probability distribution is 60; the standard deviation is 5.
What variables will be included, and collection methods used to obtain data. What is the population, sampling method used and why it is the best. Plan for data: describe what you will do with data once you have it, include types of graphs used and..
The weight of the first orange minus the weight of the second orange) is a random variable with standard deviation and individual outcomes are uncertain but happen in a predictable manner through time.
A bank wants to get new customers for their credit card. They try two different approaches in their marketing campaign. The first promises a "cash back" reward; the second promises low interest rates. A sample of 500 people are mailed the first br..
3% from excise taxes and 5% other. If a revenue source is selected at random, what is the probability that it comes from individual or corporate income taxes?
A device has a sensor connected to an alarming system. The sensor triggers with probability 0.95 if dangerous conditions exist in a given day and with probability 0.005 if conditions are normal during the day. Days with dangerous conditions occur ..
Suppose that the sales manager of a large automotive parts distributor wants to estimate as early as April the total annual sales of a region.
This includes knowing how to use an ANOVA for managerial decisions. Present a business example where you would use an ANOVA. State the hypothesis verbally and numerically.
One of the major measures of the quality of service provided by any organization is the speed with which responds to customer complaints. A large family-held department store selling furniture and flooring, including carpet, had undergone a major ..
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