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An economist is interested in studying the incomes of consumers in a particular region. The economist needs to know how large a sample should be taken so that a 90% confidence interval for their mean income with an error of $500 can be constructed. If the population standard deviation is known to be $8,000 what sample size would the economist need to use?
The estimated salary range is $4,500, the margin of error should be $100 and the desired level of confidence is 95%.
When the effect of a level for one factor depends on which level of the other factor is present, use: Select one:
Find the probability that a randomly person consumes more than 20 pounds of Ice Cream in a year. If 36 people are selected at random and the average consumption is calculated, find the probability that the mean is less than 16 lbs.
What is the probability that among 10 true hypertensives at least 50% are being treated appropriately and are complying with this treatment?
A random sample of 20 users is obtained. Using the Binomial Probability Distribution, determine the following probabilities?
Let X be the number of correct guesses by your friend in the 100 trials and Use the Normal approximation with the continuity correction - Which of the following might be reasonably modeled by the binomial distribution
The New York City Housing and Vacancy Survey showed a total of 59,324 rent-controlled housing units and 236,263 rent-stabilized units built in 194 or later.
What is our decision regarding differences between observed and expected frequencies if critical value of chi-square is 9.488 and computed value is 6.079.
The random variable x is the number of houses sold by a realtor in a single month at the real-estate office. Its probability distribution is:
What is the relationship between descriptive statistics and Affirmative Action ? Can using probability in market trending decisions lead to a bad decision? Explain?
Suppose you are on a test and are asked to determine whether the given experiment is binomial, Poisson, or neither. What are you going to think about to determine which test to use. Do you have a checklist? How would you approach this problem?
Compute the probability of a successful operation (i.e., an operation in which at least one hit is a success) if all 3 missiles are launched and a hit within 40 miles of the target is considered a success.
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