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A local drugstore owner knows that, on average, 100 people per hour stop by his store. Find the probability that in a given 3 minute period, more than 5 (P(x > 5) people enter the store.
Detremine the mean, standard deviation, and variance for this frequency distribution.
Mama's Stuffin' is a popular food item during the fall and winter months, but it is marginal in the spring and summer. Use the following demand forecasts and costs to determine which of the following production planning strategies is best for ..
The results, in tons of force required for breakage, are as follows: Determine the mean, median, range, and midrange. Calculate the mean absolute deviation (MAD).
Develop a 99% confidence interval for the population mean household income, assuming a normal distribution.
The insurance company charges an annual rate of $250 for the collision coverage. What is the expected value of the collision policy holder?
Determine standardized test statistic z and its corresponding area. If convenient use technology. z=( ) round to two decimals. Area= ( ).
Will you reject your null hypothesis that all population means are equal or will you not reject? Choose the best answer from the options below.
How much production capacity should the manufacturer reserve for the last day?
A lab test is 95% effective in detecting a disease. The test gives a false positive (reports the patient has disease when they do not) for 1 % of the healthy population tested.
Compute a 3-month moving average forecast of demand for April through January (of the next year).
A poll of U.S. health professionals revealed 82% would choose the same career. In a hypothesis test conducted at a level of significance of 5%, a P-value of 0.023 was obtained.
At the .01 significance level, is there a difference in the mean number of times men and women order take-out dinners in a month? What is the p-value?
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