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A small independent bank makes loans as small as for horses and pickup trucks to items as large as tracts of land. Total monthly loan requests are used by bank officials as an indicator of economic business conditions in the community. The mean monthly loan request for the past several years has been 615.1 (in thousands of dollars) with a standard deviation of 11.2 (in thousands of dollars). The distribution of loan requests is approximately mound shaped and symmetrical. The table below gives the loan requests (in thousands of dollars) for the past 12 months. Would you say that the local business economy is heating up or cooling down? Explain your answer. Graph the data.
Month 1 2 3 4 5 6 7 8 9 10 11 12Loan request 619.3 625.1 610.2 614.2 630.4 615.9 617.2 610.1 592.7 596.4 585.1 588.2
Develop a 99% confidence interval for the population mean household income, assuming a normal distribution.
Use the sales forecaster's, predictions to describe a normal probability distribution that can be used to approximate the demand distribution.
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The mean of a normal probability distribution is 60; the standard deviation is 5.
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Professor Jennings claims that 35% of the students at Flora College work while attending school. Dean Renata thinks that the professor has underestimated the number of students with part time or full time jobs. A random sample of 81 students shows..
A company requires its secretarial employees to demonstrate his/her ability to type more than 45 words per minute in a typing test.
Which of the following terms describes the overall long-term tendency of a time series?
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