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A hardware retailer has average sales of $64,235 with a standard deviation of $5,918 for a 12-month period. The mean monthly sales for all retailers in the chain are $59,844. Is this hardware retailer's sales significantly different from all retailers in the chain at p= .05? Are they significantly different at p= .01? Calculate a .95 confidence interval for the data in problem. Explain your findings and determine what question the confidence interval answers.
In rectangular coordinate system, determine the distance between the points (-4,1) and (8,6).
Describe expected value (EV) of an investment if there is a 20% chance of realizing a return of $20,000 or a 55% chance of realizing a return of $25,000, or there could be a loss of $15,000?
What is the level of measurement for the variable, "political ideology" measured as "Very Conservative", "Conservative","Moderate", "Liberal" and "Very Liberal".
Consider a random sample of six families who are asked if their children have an influence on their vacation destination.
Other questions we might want to ask about pooling similar populations: Do all the subpopulations have the same ratio of yellow to green seeds? Does the average ratio deviate from our hypothesized ratio?
The Executive Camera Company provides full expenses for its sales force. When attempting to budget automobile expenses for its employees, the financial department uses mileage figures to estimate gas, tire, and repair expenses.
Give the 90% confidence interval for the mean score in the population of all young women.
Let p represent the population proportion of all numbers in the corporate file that have a first nonzero digit of 1. Test the claim that p is less than 0.301 by using What is the P-value of the test statistic?
A financial advisor has recommended two possible mutual funds for investment: Fund A and Fund B. The return that will be achieved by each of these depends on whether the economy is good, fair, or poor.
A scatterplot shows a set of data points that are clustered close to a line that slopes down to the right. Which of the following values would be closest to the correlation for these data?
The length of pregnancies are normally distributed with a mean of 268 days and standard deviation of 15 days. How many days do 80 percent of women last until in their birthing process?
A jar contains marbles of different colors: 4 white, 6 black, 6 red, and 4 blue. On two random drawings, without replacement, find the probability that the first is black and the second is white.
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