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The Federal Reserve Board made eight interest rate cuts on its benchmark short term rates in a particular year. Credit cards, however, averaged around 14% with the lowest credit cards charging around 8%. A financial analyst believes that the average rate on credit cards that charge monthly fees is lower than the national average of all credit cards. A random sample of 49 different credit cards that charged monthly fees revealed a sample mean of 13.5%. Assume a population standard deviation of 1.4%. Test the financial analyst's belief that the average rate charged by credit cards with monthly fees is less than 14%. Use a 5% significance level.
Company A is hoping to expand its operations and a small group of investors is visiting next week. You are tasked with the duty of explaining how Company A uses this information from a linear programming model to optimize its shipping.
What is the probability that the first card dealt is an ace of spade?
Determine the range and standard deviation of the times.
Findout the probability using normal approximation for the provided values. Findout the specified probability from a table of Normal probabilities.
Test whether there is difference in the two population mean. Use p-value approach
Find the area under the normal distribution curve to the right of z = -1.03.
Which of the following is true about the random variables X, Y, and Z?
I have fit a line to data representing cholesterol readings for 28 individuals starting a cholesterol reducing drug. The computer provides the following output, The degrees of freedom for the t test for the slope are
What is your decision regarding the null hypothesis and interpret.
Assume a one-tailed t -test is being applied to determine if population mean is less than $212. Level of significance chosen is 0.01 and 26 accounts are sampled. Determine the critical value?
Bicycle helmet use. Table lists data from a cross-sectional survey of bicycle safety. The explanatory variable is a measure of neighbourhood socioeconomic status (variable_RFM). The response variable is "percent of bicycle riders wearing a helmet"..
Determine the mean and the standard deviation of the sample.
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