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Fowle Marketing Research, Inc., bases charges to a client on the assumption that telephone surveys can be completed in a mean time of 15 minutes or less. If a longer mean survey time is necessary, a premium rate is charged. Suppose a sample of 35 surveys shows a sample mean of 17 minutes. Use = 4 minutes. Is the premium rate justified?
a. Formulate the null and alternative hypotheses for this application.H0:Ha:b. Compute the value of the test statistic (to 2 decimals).
c. What is the p-value (to 4 decimals)?
d. Using = .01, is a premium rate justified for this client?
If code is 4 random letters, and letters can be utilized multiple times, how many different possible codes are there?
Complementation to describe each of the following events in terms of A1, A2, and A3, draw a Venn diagram, and shade the region.
Test the manager's claim at 5% and 1% significance level tests.
Choose the Hypothesis. Specify the Decision Rule. Calculate the Test Statistic. Make the Decision. Give an interpretation of the Decision
A survey of Ohio University students was conducted to determine if there was a particular Green that was desired by students to live on. A sample of students responses are reproduced below. Do students prefer a particular Green? Use critical value..
Describe the meaning of alternatives, criteria and states of nature. How are they utilized in decision analysis?
According to study done by Nick Wilson of Otago University, the probability a randomly selected individual will not cover his or her mouth when sneezing was 0.267. Suppose you sit on a mall bench and observe 200 people pass by as they sneeze.
Patients who were discharged during the year 2009. Using the information obtained from the sample to predict population characteristics with respect to malpractice litigation is an example of?
Describe the five steps of hypothesis testing. Compare Type I and Type II errors and give specific examples for each. Which error should be minimized the most and first?
Discussion should include a critical reflection on the way in which you completed the market challenge element of the module.
What is the 99% confidence interval, if the population standard deviation is known to be 10 days? What is the 99% confidence interval, if the sample standard deviation is 10 days?
How many commercials' worth of data do I need to have a margin of error no more than 3, the correct set of hypotheses
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