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PROBLEM 1
NBC TV news, in a segment on the price of gasoline, reported last evening that the mean price nationwide is $1.50 per gallon for self-serve regular unleaded. A random sample of 35 stations in the Milwaukee, WI, area revealed that the mean price was $1.52 per gallon and that the standard deviation was $0.05 per gallon. At the .05 significance level, can we conclude that the price of gasoline is higher in the Milwaukee area? Calculate the p-value and interpret.
PROBLEM 3:
Babsie is a public affairs specialist at Park University. A press release issued by Babsie based on some research claims that Park University students study at least as much as the national average for students at four year universities. Across the nation, 73 percent of all students at four year universities study at least four hours per week. Seventy percent of one hundred randomly selected Park University students surveyed claimed to study more than four hours per week. Should the University retract its previous statement? Explain why or why not. Answer using a 95 percent confidence interval.
PROBLEM 4:
The weights (in pounds) of a sample of five boxes being sent by UPS are: 12, 6, 7, 3, and 10.a. Compute the mean for this sample. b. Compute the range for this sample. c. Compute the variance for this sample. d. Compute the standard deviation for this sample.
The monthly utility bills are normally distributed with a mean value of $130 and a standard deviation of $15.
When trucks arrive at the Ambassador Bridge, each truck must be checked by customs agents. The times are exponentially distributed with a service rate of 10 per hour. What is the probability that a truck requires more than 15 minutes to be checked..
Suppose that 10 years ago the average annual expense for stock funds was 1.19 percent. Let µ be the current mean annual expense for all stock funds, and assume that stock fund annual expenses are approximately normally distributed.
What is a discrete random variable and how does it differ from a continuous random variable? Give examples.
Test hypothesis that Site B is more successful in initiating acquaintances than Site A. Use alpha = .05.
Draw the suitable 2x2 table, compute and interpret suitable measure of association.
Conduct a one-tailed hypothesis test given the information below. A certain brand of Green Energy light bulbs was advertised as having an average illumination life-span of 2,500 hours.
The assembly time for a product is uniformly distributed between 6 to 10 minutes.
Is there evidence of difference in mean life of bulbs produced by the two kinds of machines. What is your conclusion?
Determine the probability that adult owns stock and has some college education? Determine the probability that adult owns stock or has some college education?
From an urn containing balls, a ball was drawn, weighted and replaced. This experiment was repeated 5 times. what is the standard error of sample mean?
At α = .05, is there a difference in variances? Illustrate all steps clearly, including illustration of the decision rule.
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