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Sampling Distribution and the Central Limit Theorem
Find the probabilities.
a. From National Weather Service records, the annual snowfall in the TopKick Mountains has a mean of 92 inches and a standard deviation ? of 12 inches. If the snowfall from 25 randomly selected years are chosen, what it the probability that the snowfall would be less than 95 inches?
b. The loan officer rates applicants for credit. Ratings are normally distributed. The mean is 240 and the standard deviation is 60. If 36 applicants are randomly chosen, what is the probability that they will have a rating between 230 and 260?
According to an exit poll taken by CNN during the 2008 Democratic Primary in Connecticut, 552 registered voters voted for Hilary Clinton and 598 for Barack Obama. Would you have been willing to predict Obama as the winner?
Albert Einstein stated, "The formulation of a problem is far more often essential than its solution, which may be merely a matter of mathematical or experimental skill.
What does r 2 of .73 tell us? Is this a strong or weak correlation? How can you tell?
What kind of probability uses sample spaces to find out numerical probability that event will happen?
Use the method of least squares to model the relationship between x and y.
Determine the typical seasonal patterns for sales using the ratio-to-moving-average method. Project the sales for 2004, and then seasonally adjust each quarter.
The Globe Fishery packs shrimp that weigh more than 1.91 ounces each in packages marked" large" and shrimp that weigh less than 0.47 ounces each into packages marked "small"; the remainder are packed in "medium" size packages.
Estimate the 95% confidence interval for the proportion of the electorate that support this policy.
Determine expectation of number of vehicles passing through this specified point in ten minutes.
Draw the graph of the regression line on the same plot as the scatter diagram above.
What is the probability that the first and the last ones on the EP are the relationship songs?
If you are using exponential smoothing for forecasting an annual time series of revenues, what is your forecast for the next year if the smoothed value for this year is $32.4 million?
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