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Locate a news article or report (in a popular news source such as Time, Newsweek, or the Wall Street Journal) in which a population mean is estimated from a sample. The article should include a margin of error and confidence interval. Discuss the subject matter in the article, and interpret the results and what the confidence interval and margin of error mean as they apply to the specific subject matter.
If statistically significant, do you believe the difference is large enough to be significant? If so, to whom, and explain why? Is normality assumption fulfilled? Describe.
A. What is the 90% confidence interval for the daily sales at all restaurants. B. What is the probability that the average sales are really $32,000 or more per day? Assume that the population average is $30,000 per day and the std. Deviation is $2..
Your regional manager is impressed with how you've employed spreadsheets to aid your small company in saving time and more accurately figuring out payroll amounts.
What is the probability that a person who has submitted one entry will win the following?
Assume that female students' heights are normally distributed with a mean given by µ = 67.2 in. and a standard deviation given by σ = 3.6 in.
Conceptually we would expect the probability of newborn males and females to be the same. However, census reports indicate that the ratios of males and females in various countries do not conform to the theoretical prediction.
The following problem develop the concept of determining the probability distribution of random variable and its mean and variance.
Suppose that the mean of the annual return for common stocks from 2000 to 2012 was 8.5%, and the standard deviation of the annual return was 25.2%.
Use the normal approximation to the binomial distribution and part (b) to answer the following question: What is the probability that a seat will be available for every person who shows up holding a reservation?
It is really frustrating to run out of stock. Why wouldn't an organization always store large quantities of inventory to eliminate shortages and stockouts?
Find the mean ______________ and the standard deviation _____________
Suppose you found that in doing the hypothesis test, you were able to reject the null hypothesis. What is the most appropriate conclusion to draw?
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