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a) construct a 95% confidence interval for the population mean, μ. assume the population has a normal distribution. In a random sample of 26 computers, the mean repair cost was $137 with a standars deviation of $35.
b) suppose you did some research on repair costs for computers and found that the standard deviation is σ=35. Use the normal distribution to construct a 95% confindece interval for the population mean, μ. compare the results.
The president of Doerman Distributors, Inc., believes that 34% of the firm's orders come from first-time customers. A simple random sample of 120 orders will be used to estimate the proportion of first-time customers
Let z be a standard normal random variable and calculate the following probabilities:
Sales manager wishes to award sales representatives who earn the largest commissions a bonus of= $1,000 .He can award bonus to 20% of representatives. Determine cutoff point between those who earn bonus and those who don't?
In what sense is this business problem? A societal problem? An individual problem?
What is the probability that the first and the last ones on the EP are the relationship songs?
A manager wishes to find out whether there is a relationship between the number of radio ads aired per week and the amount of sales (in thousands of dollars) of a product. The data for the sample are shown below. a) Draw the scatter plot for the v..
An LU professor is interested in whether there is a difference between undergraduate students and graduate students in the amount of time spent praying each day.
A point estimate for the difference between the mean purchases of the users of the two credit cards is:
What terms describe the fit of a regression equation to the data? What is the practical use of the regression equation in the real world? Explain with some examples.
Calculate a 95% confidence interval on the average weight of packaged mustard seed. Explain very carefully to the packaging workers what the 95% confidence interval numbers mean. Include your Excel output. Is there anything you would want to note ..
Scenario: Dole Pineapple, Inc., is concerned that the 16-ounce can of sliced pineapple is being overfilled. Assume the standard deviation of the process is .03 ounces.
Suppose prior elections in Louisiana indicated it is necessary for a candidate for governor to receive at least 80 percent of the vote in the northern part of the state to be elected.
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