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Q1) Piggy Bank would like to study required sample size required to be able to evaluate the mean dollars that each card holder will spend each month. It would like to be in plus or minus $10 of true mean with a 98% confidence level. Standard deviation is thought to be= $500. How many card holders must be sampled? After you have determined how many card holders must be sampled, Piggybank comes back and says that it will cost= $5 per sample and they were only planning on spending= $10,000 on sample. In memo to Piggybank product development team point out how many card holders must be sampled to meet original requirements of sample. Then describe trade-offs which will happen when you lower sample to $10,000 to meet their budget.
IS there any evidence that a freshman's chances to graduate may depend upon what kind of high school the student attended? Describe.
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When the level of confidence and sample size remain the same, a confidence interval for a population proportion π will be __________ when p(1-p) is larger than when p(1-p) is smaller.
Find out a plausible value r for correlation between vehicle weight and miles per gallon (mpg) shown in the scattergram below?
Do students tend to improve their SAT Mathematics (SAT-M) score the second time they take the test? A random sample of four students who took the test twice received the following scores
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It is known that 60 percent of all registered voters in the 42nd congressional District are Republicans. There registered voters are selected at random from the district. Compute the probability that exactly 2 of the 3 selected are Republicans, u..
Determine the mean number of times the machine was used per day.
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Name three elements of the inferential statistical analysis.
Find out the probability distribution, and the cumulative probability distribution of car arrivals.
Mean=63.6 Standard deviation=2.5 If 36 data points are arbitrarily chosen, determine the probability that mean is less than 64.
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