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A business owner decides to use a binomial distribution to solve one of his problems. He knows there is a 60 percent probability that he will sell one of his Red Oak floors to any customer who comes into his shop and views the wood. Out of the next 7 people who come into his shop, what is the probability that 3 people will buy a Red Oak floor? What is the probability that more than four people will buy the Red oak floor?
Consider the following time plot of the values of variable Y for each month of a 60-month period. This plot displays
At a large department store, the amount a shopper spent and the shopper's gender (male or female) were recorded. To determine if gender is useful in explaining the amount of money a shopper spends at the store we could
Assuming the population is large, which sample size will give the smallest standard deviation to the statistic and select the numbers for the first five to be interviewed.
In a binomial distribution n = 8 and π = 0.2. Determine the probabilities of the following events.
Evaluate the difference in the mean ratings and find the standard deviation of the difference in the ratings, what is the chance both children are boys?
Assuming the nurses surveyed were a simple random sample from the population of all nurses in the United States, find the appropriate null hypothesis for these data
The weight of the oranges, in pounds (1 pound = 16 ounces) is a random variable with standard deviation
A sample of 50 male and 50 female infants were put on an experimental infant formula. After two weeks the parents of each infant were asked to fill out a questionnaire concerning infant satisfaction on the formula. One of the questions was "Did Ba..
Find the probability of getting a head and rolling a six
Calculate descriptive statistics for each stock and the S&P 500. Comment on your results. Which stocks are the most volatile? Calculate the value of beta for each stock.
The height and diameter of 31 trees of a certain species were measured, the trees were cut down, and the volume of usable lumber was determined. Find the explanatory variable(s) in this study are
A simple random sample of 1000 Americans found that 61% were satisfied with the service provided by the dealer from which they bought their car.
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