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What is an appropriate null hypothesis to compare the quality of the product manufactured in the overseas plants and the U.S. plants? Why? How would you choose an appropriate level of significance for your statistical test? What are the possible outcomes and limitations of your statistical test?
A manufacturer has a maximum of 240, 360, and 180 kilograms of wood, plastic and steel available. The company produces two products, A and B. Each unit of A requires 1, 3 and 2 kilograms of wood, plastic and steel respectively;
You want to show an increase in buying and selling of single-family homes this year when compared with last year's rate.
A recent study of cardiovascular risk factors reports that 30% of adults meet the criteria of hypertension. if 15 adults are assessed, what is the probabiliy that?
The article can be on Descriptive Statistics, Probability and the Normal Distribution, Sampling and Sampling Distributions, Regression Analysis, or Time Series Forecasting.
She wants to choose the passing grade such that the probability of passing a student who guesses on every question is less than 1/10. What score should she set as the lowest passing grade?
There are 8 members on the board of directors. If the board must form a committee of 6 members, how many different ways may the committee be selected from among the 8 board members?
The resulting equation for the line of best fit is given below, with x being observed for values between 10 and 200. If a production run was scheduled to produce 80 units, what would you predict the cost per unit to be in dollars?
The symphony sells raffle tickets each year to raise money. Assume they sell 2000 tickets and the tickets cost $100 each.
How should he go about taking samples to gather data for testing the hypotheses?
How many units of capacity should be built to minimize the total cost of providing capacity plus lost sales?
Explain how we test independent against dependent variables in a regression analysis? What's the set up? How are regression analyses often misused / misinterpreted at work or in the news? Cite an example.
In February 2002, the Argentine peso lost 70% of its value compared to the United States dollar. This devaluation drastically raised the price of imported products.
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