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A Wendy's franchise has been averaging about $5000 worth of business on a typical Saturday with a standard deviation of σ = $500. The manager is concerned that sales are slipping, after taking into account the average value of sales for four consecutive Saturdays being $4800.
If we wanted to shorten the interval of the estimation of the true mean of Saturday sales to a width of $600 in total, what should the size of our sample be to achieve it?
Where S, A, and R are measured in dollars per week. Vanguard's marketing director is comfortable using parameter estimates that are statistically significant at the 10% level or better.
Compute the appropriate Test Statistic to test null hypothesis that mean of population is 4.3 against alternative hypothesis μ ≠ 4.3.
Fix-It Copiers advertises mean time of 100 minutes for office calls with standard deviation of 25 minutes. What percentages of calls are completed?
One of the main measures of the quality of service provided by any organization is the speed with that responds to customer complaints. A large family-held department store selling furniture and flooring, including carpet, had undergone a chief ex..
Determine expectation of number of vehicles passing through this specified point in ten minutes.
Leggo's pesto is make from a recipe brought to America by an immigrant ancestor the present generation refers to as Bisnonna Maria.
If an apartment is selected at random, what is the probability that it is not a 2 bedroom apartment on the 2nd floor?
Can you conclude that information in article is untrue? Use 0.05 significance level. Find out p-value and explain its meaning.
The mean return for the random sample of 33 mutual funds is 14.93 percent with a standard deviation of 9.57. Test the null hypothesis: H0: mu = 15% at α = 0.05.
How does the bell-shaped curve for the sampling distribution of sample means for samples of size n = 100 compare to the bell-shaped curve for sampling distribution of sample means for samples of size n = 60.
Suppose population standard deviation for those drinking regular coffee is 1.20 cups per day and 1.36 cups per day for those drinking decaffeinated coffee.
One person's file is chosen at random. Find out probability that selected person will fall into following categories. Book keeping.
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