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Trevor is interested in purchasing the local hardware/sporting goods in the small town of Dove creek, Montana. After examing accounting records for the past several years, he found that the store has been grossing over $850 per day about 60% of the business days it is open. Estimate the probability that the store will gross over $850
a. at least 3 out of 5 business days
b. at least 6 out of 10 business days
c. fewer than 5 out of 10 business days
d. fewer than 6 out the next 20 business days. If this actually happened, might it shake your confidence in the statement p = 0.60? Might it make you suspect that p is less than 0.60? Explain.
e. more than 17 out of the next 20 business days. If this actually happened, might you suspect that p is greater than 0.60. Explain.
A letter is drawn 1,000 times, at random, from the word A R AB I A. There are two offers. (A) You win a dollar if the number of A's among the draws is10 or more above the expected number. (B) You win a dollar if the number of B's among the drawsis 10..
Determine the mean and standard deviation of this distribution?
Scatter plot, Correlation coefficient and Regression equation - Do a complete regression analysis by performing the steps below
Forecast the number of deliveries utilizing exponential smoothing constant for different values also compare it. A hospital records the number of floral deliveries its patients receive every day.
Compute the skewness for your data set using Pearson's
A particular fast food restaurant is located near a University. 40% of the customers are students. Students prefer the spicier items.
Estimate the values using multiple regression models. An air conditioning as well as heating repair firm conducted a study to determine if the outside temperature, Illustrate the forecasted monthly electric bill.
Use regression analysis to develop an estimated regression equation that could be used to predict the value score given the price of the car.
Make use of Excel to determine the right-tail p-value.
A financial advisor has recommended two possible mutual funds for investment: Fund A and Fund B. The return that will be achieved by each of these depends on whether the economy is good, fair, or poor.
The dimension is supposed to be 224 mm and the variance is unknown for the manufacturing process. Is there evidence that the mean dimension is not 221 mm? Assume the population is normally distributed. Use a = 0.05 and the critical value value met..
In standard normal distribution standard deviation is always ___.
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