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Random sample of 100 pieces of wire and wants to see if the thickness of a batch of wire meets minimum specifications. Assume that the population mean is 0.45 inch, with a standard deviation of 0.03 inch.a) Calculate the mean and the standard deviation of the sampling distribution.b) What may be said about the shape of the sampling distribution?c) Within what range of values does the sample mean have a 68.26% chance of falling?d) Within what range of values does the sample mean have a 95.44% chance of falling?
At the .05 significance level can we conclude that there is more variation in the processing time of the new machine?
For the following scores, find the (a) mean, (b) median, (c) sum of squared deviations, (d) variance, and (e) standard deviation:
A local computer sales office sent the following information about the computer system installation. Identify the critical path by computing the ET, LT, TS and FS values.
Ten pairs of points yielded a correlation coefficient of 0.790. If α = 0.05, which of the following statements is correct if H0 = ρ0?
Briefly discuss probability distributions. What is a normal distribution? Please provide a written example of how 'understanding distribution' can be an asset for any business project.
Provide one example in the accounting department that you can apply a contingency table to. Briefly explain how a contingency table can be useful.
Does this sample show sufficient evidence that the private university loan default rate is below the rate for all universities, using a left-tailed = .01. That is, do you reject the null hypothesis?
Index number acts as a barometer for measuring the value of money. What are the characteristics of an index number? State its utility.
To find z-score and required probabilities based on Normal distribution. Assume that childrens weekly allowances are normally distributed in the population.
Create an equation for which the appropriate test of the statistical hypothesis would require the use of a z-score. (For the population mean for the variable of interest, you may invent a hypothetical population mean for the sake of this equation...
They tested a random sample of 40 batteries using a special device designed to imitate real-world use and recorded data on battery lifetime. Determine the sample mean (in minutes).
The alternative hypothesis is true. In this case the consumer advocacy group will have, A consumer advocacy group doubts this claim and tests the hypotheses
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