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People in a large population average 60 inches tall. You take a random sample and will be given a dollar for each person in your sample who is over 65 inches tall. For example if you sample 100 people and 20 turn out to be over 65 inches tall, you get $20. Which is better: a sample of size 100 or a sample of size 1,000? Choose one and explain. Does the law of averages relate to the answer you give?
As a manager, what are some benefits of applying probability concepts to solve business-related problems? Would business decisions suffer without probability concepts? Explain.
Find the minimum sample size needed using a prior study that found that 36% of the respondents said they support abolishing the penny.
A random sample of 15 customers is selected, and the results are as follows: 8.02 4.08 5.79 8.73 5.47 5.64 8.01 10.49 8.35 5.9 9.66 9.91 3.82 6.68 6.17 a) calculate arithmetic mean, median, mode, first quartile and third quartile.
A recent national study showed that approximately 30% of college students binge-drink. Let x equal the number of students in a random sample size of n=12 who binge drink. Find the probability that
To find the probability values in case of raw data, binomial, normal
He is sorry but there is a 99.9% (1-0.001) chance that you have HIV. Is he correct? What is the actual probability that you are HIV positive?
The data results are based on serum continine levels for each group. The claim is that exposure to tobacco smoke (as second-hand smoke) corresponds to higher levels of cotinine.
In terms of measures of association, how is Lambda different from the other measures used for nominal level data?
In a clinical study of an allergy drug, 115 of the 204 subjects reported experiencing significant relief from their symptoms. At the 0.01 significance level, test the claim that more than half of all those using the drug experience relief.
Using the empirical rule, what is the approx percentage of cans of regular coke with weights between 0.80931 lbs. and 0.82433 lbs?
Prepare a scatter plot and Interpret the meaning of slope, b1, in this problem
Suppose that combined verbal and math SAT scores follow a normal distribution with mean 896 and standard deviation 174. Suppose further that Peter finds out that he scored in the top 3% of SAT scores. Determine how high Peter's score must have bee..
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