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Over a long period of time in a large multinational corporation, 10% of all sales trainees are rated as outstanding, 75% are rate excellent/good, 10% are rated satisfactory, and 5% are considered unsatisfactory. Find the following probabilities for a sample of n = 10 trainees selected at random: (a) Two or more are rated as outstanding. (b) None of the trainees are rated as unsatisfactory. (c) Two are rated outstanding, six are rated excellent/good, one is rated satisfactory.
If a card is drawn at random from a standard 52-card deck, what is the probability that the card drawn is one of the following?
If the population mean is estimated within two days, how many salespeople should be sampled?
Find the mean and standard deviation for the batting average for a player in the most recently completed MBL season. What batting average would separate the top 5% of all hitters from the rest?
Mothers did not take the drug DES during pregnancy , what is the estimate of the number of women out of 1000 who would be expected to have tissue abnormalities?
Is there evidence of a difference in the variability of the waiting time between the two branches? (Use 5% level of significance). Find the p-value in (a) and interpret its meaning.
Explain how the power of hypothesis test is influenced by each of the following. Assume that all other factors are held constant. Increasing the alpha level from .01 to .05.
Using convolution, determine the pdf of a continuous random variable Z where Z = X + Y. Here, X has a uniform distribution on [0, 3] and Y is a constant of value 2. Assume that X and Y are independent.
For each of the following three scenarios, state which hypothesis test you would use from among the four introduced so far: the z test, the single-sample t test, the paired-samples t test, and the independent-samples t test.
The time between arrivals of customers at the drive-up window of a bank follows an exponential probability distribution with a mean of 10 minutes.
The mean return on investment is 25 percent and the standard deviation 5.2 percent. Compare the relative dispersion for the price-earnings ratios and return on investment.
If the standard deviation of the population is 9 hours, determine whether there has been a significant increase in battery life expectancy.
Determine the minimum sample size to construct a 90% confidence interval for the population mean. Assume the population standard deviation is 1.2 years.
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