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Describe an instance when you used probability in a decision and provide specific details on the variable that you estimated and exactly how the probability was used. For example, you may have decided to bring an umbrella to work based on a prediction of an 80% chance of rain.
Suppose that a marketing firm sends questionnaires to two different companies. Based on historical evidence, the marketing research firm believes that each company, independently of the other, will return the questionnaire with a probability of 0.30...
What two assumptions must be met when you are using the z test to test differences between two means? Can the sample standard deviations s1 and s2 be used in place of the population standard deviations σ1 and σ2?
During the fall harvest season in the United States, pumpkins are sold in large quantities at farm stands. Often, instead of weighing the pumpkins prior to sale, the farm stand operator will just place the pumpkin in the appropriate circular cutout o..
Beanie Babies are toy stuffed animals that have become valuable collector's items. Beanie World Magazine provided the information on 50 Beanie Babies given in beanie.xls.
What proportion of customers say that they will return and rate the restaurant's food as good?
Describe the error in the conclusion. Given: There is a linear correlation between the number of cigarettes smoked and the pulse rate. As the number of cigarettes increases the pulse rate increases. Conclusion: Cigarettes cause the pulse rate to incr..
Assume Z is a random variable with a standard normal distribution ( the is, a mean =0 and a standard deviation of 1). What is P(Z -0.5) ?
Make a histogram of the data using a bar width
A time series with forecast values and error terms
It is known that 35% of the members of a certain population suffer from one or more chronic diseases. What is the probability that in a sample of 200 subjects drawn at random from this population 80 or more will have at least one chronic disea..
Suppose you estimate the mean length of all popular songs to be 182 seconds. Then, you use a random sample of 40 songs from your iPod to construct a confidence interval. The confidence interval you construct is (182.2, 226.2). What can you conclude a..
A randomly selected employee earns
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