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A company produces a women's bowling ball that is supposed to weigh exactly 14 pounds. Unfortunately, the company has a problem with the variability of the weight. In a sample of 14 of the bowling balls the sample standard deviation was found to be 0.52 pounds. Construct a 95% confidence interval for the variance of the bowling ball weight.
Compute the test statistic for the goodness of fit test. At 95% confidence using the p-value approach, test the hypotheses. What do you conclude about the distribution?
Suppose the average value of P is $ 3 and average value of Po is $ 6. Determine the price elasticity at average values of P and Po?
Using the Wilcoxon Signed-Ranks Test. Paired sample data and use the Wilcoxon signed-ranks test to test the claim that the matched pairs have differences that come from a population with a median equal to zero.
At least half the patients are under 15 years old? First, explain how this can be modeled as a binomial distribution with 8 trials, where success is visitor age is under 15 years old and the probability of success is 20%.
Claculate the exponential also adjusted exponential smoothing forecast and linear trend forecasting. The hotel has experienced the following occupancy rates for the past 9 years.
As a condition of employment, Fashion Industries applicants must pass a drug test. Of the last 220 applicants 14 failed the test. Develop a 99 percent confidence interval for the proportion of applicants that fail the test. Would it be reasonable ..
Suppose these data represent whole population. Determine the population mean and population standard deviation.
A new county hospital is attempting to determine whether it needs to add a particular specialist to its staff. Five percent of the general hospital population in the county contracts the illness the specialist would treat.
What are some conditions under which business decisions are made using subjective probability concepts? Could you please cite two examples of subjective probability.
Suppose normality, determine a 90% confidence interval for population variance.
Identify 5 variables of interest to healthcare managers. Select and define one variable and include your rationale for selecting this variable. What is the difference between a dependent and independent variable?
Fast Service Store has maintained daily sales records on the various size 'Cool Drink' sales. These are shown in the following table:
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