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Suppose that 5,000 sales invoices are separated into four strata. Stratum 1 contains 50 invoices, stratum 2 contains 500 invoices, stratum 1,000 invoices, and stratum 4 contains 3,450 invoices. A sample of 500 sales invoices is needed.
a) What type of sampling should you do? Why?
b) Explain how you would carry out the sampling according to the method in (a)
According to a national survey of 1,500 Silverman Sachs customers, 1,050 of them were either satisfied or very satisfied with their financial advisor.
The prices recorded were $1.36, $1.37, $1.38, $1.39, and $1.40. What is the range, mean price, and the standard deviation of the gasoline?
Use a P-value to test the claim about the population mean using the given sample statistics. State your decision for a=0.05. Claim: mean does not = 230
Is there a more efficient way to design the experiment to answer the same question? In other words, is there a better way to make use of this data?
Respond to the questions? In other words, what is the probability that the sample proportion p will be at least 75/300 = 0.25?
Suppose that $532,000 is to be allocated for advertising, research, and investment in the ratio 8:7:4. How much money will be allocated for each?
If random samples of 36 download times are selected, what is the probability that the sample mean will be less than 0.84 seconds?
Explain finding value of test statistic for the given data also interpret the result. Can Mr. Ratter compute which the mean weight of the bags is less than 50 pounds.
A rental agent claims that the mean monthly rent, mu, for apartments on the east side of town is less than $725. A random sample of 13 monthly rents for apartments on the east side has a mean of $724
Scrap rates per thousand (parts whose defects cannot be reworked) are compared for 5 randomly selected days at three plants. Does the data prove a significant difference in mean scrap rates?
Suppose standard deviation stays same, how much do you have to decrease your average production time so that 95% of time you can deliver product in under 75 hours?
Now he wants to know if there is a difference between the three formats. Is there?
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