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The makers of a soft drink want to identify the average age of its consumers. A sample of 16 consumers is taken. The average age in the sample was 22.5 years with a standard deviation of 5 years.
1. Construct a 95% confidence level.
2. Now do the same thing with 80% confidence level.
Suppose you, as the manager of Tennessee Grilled Pork. would like to ensure you have enough cleaning staff for your dining room and would like to analyze data for customers who enter the restaurant to place and order and either eat in the restaura..
An electronic test equipment manufacturing company markets a certain piece of specialty equipment. The company has several competitors who currently market similar pieces of equipment.
If the sample size (n) is large, and the sample is a random sample, then the distribution of the sample mean x-bar is approximately a:
A newspaper conducted a statewide survey concerning a proposal to raise taxes to prevent budget cuts to education. The newspaper took a random sample (assume it is an SRS) of 1200 registered voters and found that 580 would vote to raise taxes. Let..
What is the appropriate conclusion based on the outcome of the hypothesis test?
What is the chance that stock will fall by more than 15% next month? What extra assumption are you making when replying this question?
Compute the mean, median, and mode. Which of these measures of central tendency do you think most accurately describes the lifestyle variable you are looking at?
Convert each of the following z intervals to x intervals.
Calculate expected number of interruptions per day. Calculate standard deviation.
A wildlife biologist wants to do a test to see if there is a genetic trait linked to industrial toxins. Previous research says the trait is usually found in one out of every thirty frogs.
Robert Smith of the "Merrill Lynch Pierce Fenner & Smith" families is engaged in full-time fundraising. He has been quite successful at this because he brings a very structured approach to the process:
Machine X test unit cost $3000 with beta=3 and theta=500, Machine Y test unit cost $2000 with beta=3 and theta=400. If the machines oil fixtures has life of 20 hrs, which machine goes to market first?
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