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Of 43 bank customers depositing a check, 18 received some cash back. Construct a 90% confidence interval for the proportion of all depositors who ask or cash back. Assume all statistical requirements are met.
Use this information to develop a 95% confidence interval to estimate the production variance for the hourly wages of production workers in U.S. What is the value of upper limit of this confidence interval?
An American Society of Investors Survey found that 30% of individuals have used a discount broker. In a random sample of 9 individuals, what is the probability That:
It is estimated that 55% of the freshmen entering a particular college will graduate from that college in four years.(a) What probability model should be used and why?
Assume there are 18 homes in the Quail Creek area and 8 of them have a security system. Five homes are selected at random: What is the probability all five of the selected homes have a security system?
Calculate the expected value of this undertaking (make sure to take into account the thief's initial wealth).
Decide whether the experiment is binomial, poisson, or neither based on the information given. you observe the gender of the next 950 babies born at a local hospital.
Suppose the probability of suffering a side effect from certain flu vaccine is 0.005. If 1000 persons are inoculated, find the approximate probability that: At most 2 persons suffer.
An insurance company is reviewing its current policy rates. When originally setting the rates they believed that the average claim amount was $1,800.
You only worry if there is at least a 50 or more percent chance that you have the disease. Suppose that test has same specificity = p For what value of p will you start to worry?
Using the information provided, determine the optimal number of clerks to have on duty each Satyrday to minimize the store's total expected cost.
The Pew Research Center’s Social & Demographic Trends project found that 46% of U.S. adults would rather live in a different type of community than the one where they are living now (Pew Research Center, January 29, 2009). The national survey of 2260..
Do we have to worry about confounding variables in this instance? Why? If so identify a possible confounding variable? Are either of the terms retrospective study or prospective study relevant? Explain.
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