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During a recent year the average cost of making a movie was $54.8 million. This year, a random sample of 15 recent action movies had an average production cost of $62.3 million with a variance of $ 8 million. At the 0.05 level of significance, can it be concluded that it costs more than average to produce an action movie? Use the P value method.
Assuming that a difference (Δ) of 2 lbs. in the mean was important to detect, a maximum Type I Error (α) level of 5%, and the desire to run a two-tailed test, then:
A patient is chosen at random from the clinic. What is the probability that the patient's test comes out positive for Lyme disease?
Determine the probability that among 6 companies surveyed at random, number that provide employees 4 weeks of vacation after 15 years of employment.
At α = 0.01, is the degree of certainty independent of credits earned?
An independent researcher has decided to study variations in TV viewing habits among three American cities. She has managed to randomly sample households in Chicago, Atlanta, and Minneapolis and gather data on the daily "on" times for households o..
A sample of 26 automobiles 2 yrs. old showed a standard deviation of $170. What is the test statistic for testing the difference between these population variances at alpha =.01?
At a large commercial bakery, one of the measures familiar with evaluate employees is the number of broken cookies per 1000 produced. The quality control department wants to determine if there is a relationship between years of experience and bro..
Assume that random variables X1,.....,X50 are independent and all have probability density function fX(x) = 1/x for 1
How can the binomial distribution be used in a business situation? What type of data would you use and what would you learn from this?
Suppose the salary of assembly line workers has Normal distribution with mean of $20,000, and standard deviation of $3,000.
Find/discover an example of statistics in the news to discuss the following statement that represents one of the objectives of statistics analysis: "Statistics helps us make decisions based on data analysis.
The price of each selected item was checked at each of the three chains on the sames day. Use 0.05 level of significance. What is the decision rule for both.
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