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The US Census Bureau announce that the median sales price of new houses sold in April 2009 was $221,600 while the mean sales price was $274,300. Assume that the standard deviation of the prices is $90,000.
a) If you select samples of n=2, describe the shape of the sample distribution of Xbar.
b) If you select samples of n=100, describe the shape of the sample distribution of Xbar.
c) If you select a random sample of n=100, what is the probability that the sample mean will be less than $300,000?
d) If you select a random sample of n=100, what is the probability that the sample mean will be between $275,000 and $ 290,000?
Prepare a 10-13-question survey to gather primary data regarding your selected problem statement. Please note that you will not administer this survey as part of this assignment.
Suppose that Total Revenue = 200Q and Total Cost = 80 + 50Q where Q, the quantity sold, is a random variable with expected value 20 and variance 4.
Below, explicitly state slope of your trend line and describe what value of slope signifies in terms of this context.
If a 99% confidence interval is calculated to estimate the difference between the average hourly rates for each type of graduate, what is the margin of error? Assume both population standard deviations are equal.
Compare a tabular cum sum chart using standardized values h = 5 and k = 1/2. What is the information you learn.
Professor Brunner had students in his Marketing class rate his performance as Excellent, Good, Fair, or Poor. A graduate student collected the ratings and assured the students that Professor Brunner would not receive them until after the course gr..
Suppose the weights of full boxes of a certain kind of cereal are normally distributed with a population standard deviation of 0.29 ounces.
An important idea in data interpretation is choosing which graph to use under which circumstances. Describe the benefits of different graphs for different sets of data:
To decrease the amount of time it takes to deliver packages, a delivery company purchased computer software that finds the optimal route for making deliveries based upon the input of the package destinations.
At the 0.05 level of significance, can we conclude Middletown students remained in their districts less time than Brockton students? Make use of 5-step hypothesis testing procedure.
You're considering an investment in the common stock of Crisp Cookware. The stock is expected to pay a dividend of $2 a share at the end of the year (D1 = $2.00). the stock has a beta equal to 0.9.
This sample group has errors with a standard deviation of 54.7ft. At the 5% level of significance, test that the new population has errors with a standard deviation equal to 43.7ft.
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