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If x is a binomial random variable where n=100 and p=.1, find the probability that x is less than or equal to 11 using the normal approximation to the binomial.
The weight of a product is normally distributed with a standard deviation of .8 ounces. What should the average weight be if the production manager wants no more than 1% of the products to weigh more than 7.3 ounces?
Use the traditional method to test the given hypothesis. Assume that the population is the normally distributed and that the sample has been randomly selected.
A surgical technique is performed on seven patients. You are told there is a 70% chance of success. Find the probability that the surgery is successful for at least four patients.
At the .05 significance level, is the number of units produced on the afternoon shift larger?
At 5 % level of significance, does this sample prove violation of the guideline that average patient muts pay no more than $250 out-of-pocket? Is this a close decision?
When the Sharpe Ratio for the market portfolio is 0.5, what risk-free rate Rf is the market anticipate? Draw on a diagram for the Capital Market Line derived from the above data. Make sure to clarify the intercept and the slope.
Do 1-sample t-test to see if people in Chicago have travelled to fewer states than people nationwide. Utilize the 10% (.10) level of significance.
Compute the mean, standard deviation, median, and standard error for each group.
Estimate and interpret the p-value of the calculated test statistic.
Is there a relationship between sales and newspaper advertising? Support your answer?
A normal distribution has a mean of µ = 100 with σ = 20. If one score is randomly selected from this distribution, what is the probability that the score will have a value between X = 90 and X = 120?
San francisco also reported that a scientific polling organization found that new zealanders favor the law by a margin of 56.4% to 39.3%. Explain why the two polls can give such widely differing results and which poll is likely to be more reliable..
Please give an example on higher wages vs. education level using a sample population of 30 men and women. Compute the measures of central tendency, dispersion, and skew for your data
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