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An investigation of past consumer surveys done by a company reveals that 2/3 of customers contacted respond to the survey. The marketing manager wants to do a new survey and plans to contact 198 customers. (a) How many responses should the manager expect to receive? (b) Give an approximation of the probability that 140 or more customers will respond. (c) Give an approximation of the probability that 135 to 150 customers will respond. (d) Give an approximation of the probability that 130 or less customers will respond. (e) Compare your approximate answers with the exact probability values obtained on Excel.
Describe the relevant population and the source (e.g. newspaper, TV, radio, internet, etc.). Explain why you do not believe it is accurate.
In a class of 40, 16 driver a car made outside the United States. What is the confidence interval for the total population of students at the 95% level?
I have the t-score of 1.660 an a standard error of .036. I hope they are correct, but also need the test effect and test statistic, p-value.
The consultant has offered to share their analysis with your company for a fee of $25.0 million. What is the Expected Value of Perfect Information in this scenario?
The total profit (in dollars) for sales of x rowing machines is given by P(x) = -0.2x^2 + 300x - 200. What is the profit if 500 are sold? For what value of x will the profit be at a maximum?
Sample resulted in mean trading volume = 39.48. Population standard deviation = 15.07. Compute 95% confidence interval for u.
In a particular region of Rhode Island, it is known that fisherman's trap on average of 32 pounds of lobster per day with a standard deviation of four pounds.
What proportion of observed variation in hardness can be explained by the simple linear regression model relationship between hardness and elapsed time? (Give the answer to three decimal places.)
What sample size would be needed to obtain an error of +/- 10 square millimeters with 99% confidence?
Which samples show unequal variances? Use α = .05 in all tests. Show the critical values and degrees of freedom clearly and illustrate the decision rule.
It is estimated that 2% of the athletes competing in a large tournament are users of an illegal drug to enhance performance. The test for this drug is 95% accurate. What is the probability that an athlete who tests positive is actually a user?
Among Americans who are auto racing fans, 59% identify NASCAR as their favorite type of racing. What is the probability that all four have NASCAR as their favorite?
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