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NBC TV news, in a segment on the price of gasoline, reported last evening that the mean price nationwide is $1.50 per gallon for self-serve regular unleaded. A random sample of 35 stations in the Milwaukee, WI, area revealed that the mean price was $1.52 per gallon and that the standard deviation was $0.05 per gallon. At the .05 significance level, can we conclude that the price of gasoline is higher in the Milwaukee area? Calculate the p-value and interpret.
You own a stock called Insurate, Inc. Your profit for the stock is a random variable (W) with mean 1,000 and variance 400. You would like to buy more stock and you are trying to decide between Insurate
Public transportation and the automobile are two methods an employee can use to get to work each day. Samples of times recorded for each method are shown. Times are in minutes.
You are the manager of a fast food restaurant. You want to determine whether the population mean waiting time to place an order has changed in the past month from its previous population mean value of 4.5 minutes.
The average score on the stat midterm was 75 points with a standard deviation of 5 points, and Gregor's z-score was -2. How many points did he score.
Create and attach a normal curve to this document with the following elements: the normal curve, a label of the average number of shoppers, and labels for the sample means of 441 and 446 shoppers. Include all the appropriate symbols.
He reviews the last eight months at dealership B and finds the standard deviation of the eight monthly sales to be 22.95. Using the .01 significance level does the analyst find evidence that the boast of dealership A is correct?
What is the probability of selecting an accounting major, given that the person selected is a male?
Calculate sample proportion and then also calculate a 99% confidence interval for true population proportion, p.
Seiko purchases watch stems for their watches in lots of 10,000. Seiko's sampling plan calls for checking 20 stems, and if 3 or fewer stems are defective, the lot is accepted.
Give a real world example of a situation where normal parametric tests would not be useful and where there is a need for nonparametric test methods. Be specific and explain why nonparametric tests are needed in that case.
A firm keeps account for 28 customers. 12 of these are defined as new customers and 14 are locally based. If just 3 new customers live locally, how many established customers do not live locally?
A sample of n = 9 individuals was selected from a normally distributed population with a mean of µ = 25 and a standard deviation σ = 6. A treatment was administered to the sample and, after treatment, the nine individuals produced the following sc..
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