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A. Which of these variables are discrete and which are continuous random variables?
1. The number of new accounts established by a salesperson in a year.2. The time between customer arrivals to a bank ATM.3. The number of customers in Big Nick's barber shop.5. The amount of fuel in your car's gas tank.6.The number of minorities on a jury.6. The outside temperature today.
B. A recent article suggested that if you earn $25,000 a year today and the inflation rate continues at 3 percent per year, you'll need to make $33,598 in 10 years to have the same buying power. You would need to make $44,771 if the inflation rate jumped to 6 percent. Confirm that these statements are accurate by finding the geometric mean rate of increase.
Compare the two forecasts computed in (a) and (b), using MAD. Which one should the dealer use for January of the next year?
Describe the error in the conclusion. Given: There is a linear correlation between the number of cigarettes smoked and the pulse rate. As the number of cigarettes increases the pulse rate increases. Conclusion: Cigarettes cause the pulse rate to i..
Find out the cheapest way of manufacturing today's batch of NasaMist.
At the .01 significance level, is there a relationship between job pressure and age?
Use this information to construct a probability table, and then calculate each of the following probabilities: P(foreign car)
In forestry there appears to be a correlation between the diameter of a tree at breast height and the totol height of the tree. For the following sample of ten white spruces first construct a scatter plot then find the correlation (r) between heig..
At the 0.05 level of significance, is there evidence of a significant relationship between the age groups and where people primarily get their news? If so explain the relationship.
Explain clearly, in your own words, what is a Type I error in this context.
Critically discuss how you can apply the concept and method of interval estimation to help you solve some of the problems in a regularly accounting department. Give a few examples.
You took the standard deviation of 4.5 minutes from a commuting friend and believe that that is the standard deviation for the area. Prepare a 95% confidence interval for the true average commuting time.
A study of cardiovascular risk factors compared heavy smokers, light smokers, and nonsmokers. Both men and women were included in the study and gender differences were also to be investigated. One of the variables measured was the heart rate after..
What is the probability there will be between 10 and 14 calls inclusive arriving at the company in the next 15 minutes?
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