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Using Excel, please demonstrate use of functions to solve the following probability problem.
Tired of careless spelling and grammar, a company decides to administer a test to all job applicants. The test consists of 20 sentences. Applicants must state whether each sentence contains any grammar or spelling errors. Half the sentences contain errors. The company requires a score of 14 or more.
If an applicant guesses randomly, what is the probability of passing? (Round your answer to 4 decimal places.)
What minimum score would be required to reduce the probability "passing by guessing" to 5 percent or less?
A random sample of 225 fathers from Littleton, yielded 97 who did not help with child care. Using a .05 level of significance test the claim that the proportion is at least 34%.
Banner Mattress and Furniture Company wishes to study the number of credit applications received per day for the last 300 days.
State the decision rule for .05 significance level. (Round your answer to 3 decimal places.)
Testing for two Proportions - Is the difference between the averages statistically significant?
Determine the correlation coefficient. Is there a strong relationship? If so determine the line of best fit. Estimate what the sales should be for a 3000 square foot shop.
Compare the two forecasts computed in (a) and (b), using MAD. Which one should the dealer use for January of the next year?
What is a discrete and continuous random variable? What is a probability distribution for a discrete random variable? Please provide examples to illustrate your answer? Please no textbook or internet examples, original examples only.
Determine the control limits for the mean and the range. Plot the control limits for the mean outside diameter and the range.
Carry out a test of hypothesis on each of regression coefficients. Could you delete any of the variables?
What is the probability an applicant does not pass the test and is a sucessful manager?
Founder of modern probability and statistics theory Cardano asserted that if one throws a die three times the chance that a given number will show at least once is 50 percent. This is now recognized as the wrong answer. Calculate, what is a probab..
What is the standard deviation of expected returns for Stock X? For Stock Y?
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