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The Department of Motor Vehicles (DMV) can service customers at a rate of 20 per hour (or 1/3 per minute) when it comes to license renewals. The service time follows an exponential distribution. What is the probability that it will take between 2 and 3 minutes to be served?
The Speedy Oil Change Company advertised a 15-minute wait for an oil change. A sample of 23 oil changes showed a mean time of 16.5 minutes and a standard deviation of 4.3 minutes.
Plot CEO salaries against the net profit of their respective companies, do you expect to find a linear correlation between the two?
To test productivity quickly, he has his shift foremen record number of defective T-shirts made in randomly sampled week. Critical Value: t =Test Statistic (Show procedure.): t =?
Did you find any outliers on the dependent variables that were due to errors of coding? If so, what and why? How would you correct an error of coding?
A random sample of 35m of the firm's accountants has a mean workday of 8.2 hours with a standard deviation of 0.5 hour. At α = 0.01, can you support the CEO's claim?
Sat verbal scores are normally distributed with a mean of 426 and a standard deviation of 94. Use the Empirical Rule to determine what percent of the scores lie between 332 and 426.
A cereal manufacturer sells boxes of cereal that list the weight as 19 oz. A random sample of 60 boxes was taken, with the contents carefully weighed.
An investor estimates that there is a 1 in 10 chance that a stock purchase will lose 20% of its value, a 2 in 10 chance it will break even, a 4 in 10 chance it will gain 15% and 3 in 10 chance it will gain 30%. What is the expected return.
Survey was mailed to a total of 400 students; 100 were randomly selected from each of the freshman, sophomore, junior and senior classes last semester. What sampling method was used?
Briefly describe how the standard deviation influences the outcome of the hypothesis test. How does standard deviation influence measures of effect size?
What is the difference between resampling (bootstrapping) and double sampling in research? Is there any difference or is the same? Please explain your response?
What is the probability that both defective lights will be found within three trials?
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