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1. The scores on the entrance exam at a well-known, exclusive law school are normally distributed with a mean score of 200 and a standard deviation equal to 50. At what value should the lowest passing score be set if the school wishes only 2.5 percent of those taking the test to pass?
2. A machine is used to cut a metal automobile part to its desired length. The machine can be set so that the mean length of the part will be any value that is desired. The standard deviation of the lengths always runs at .02 inch. Where should the mean be set if we want only .4 percent of the parts cut by the machine to be shorter than 15 inches long?
Find the probability that the sales representative makes
South Central Airlines (SCA) operates a commuter flight between Atlanta and Charlotte. The regional jet holds 48 passengers and currently SCA only books up to 48 reservations. Past data shows that SCA always sells all 48 reservations, but on average,..
Prove that the regression R2 is identical to the square of the correlation coefficient between two variables Y and X.
Let X1....X10 be a random sample from a population with mean 50 and standard deviation 4. Let X be the sample mean. Find the expected value and standard deviation of X. Do you know the probability distribution of X ? Clearly state any neces..
You want to compare the daily sales for two different designs of Web pages for your internet business. You assign the next 62 days to either Design A or Design B, 31 days each. The summary statistics for the test are shown in part (d) on the next ..
How closely does the number of trading accounts relate to the total assets of the 10 largest online stock brokerages? The table below presents data on these brokerages. The number of accounts is in thousands, and assets are in billions of dollars.
Refer to the new product development example in the overview of this module. Suppose that there is a 60% probability that the product will be a success on the market (that means, the probability of failure is 40%). If the product is a success, you wi..
Describe your selected research issue, problem, or opportunity.Formulate a hypothesis statement concerning your selected research issue, problem, or opportunity.Determine your population, and describe which sampling method you would use to generate y..
The number of loads of laundry washed per month was tracked for women and men living in college dorms.
Jack weighs 160 pounds and his sister weighs 110 pounds. If the mean weight for men his age is 175 with a standard deviation of 14 pounds and the mean weight for women is 145 with a standard deviation of 10 pounds, determine whose weight is closer to..
statistics1 an electronics company is about to launch a new product. if the serial number for eachnbsp piece produced
Find a point estimate of and a 95 percent confidence interval for p, the proportion of all first-year defaults that are approved on the basis of falsified applications.
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