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At a computer manufacturing company, the actual size of computer chips is normally distributed with a mean of 1 centimeter and a standard deviation of 0.1 centimeter. A random sample of 12 computer chips is taken. what is the standard error for the sample mean?
The U.S. Food and Drug Administration (FDA) performed a study that compared the carbohydrate content (as a percentage of weight) of several major brands of corn and potato chips.
They decide to sample some fast-food restaurants currently operating to estimate the monthly cost of electricity. They want to be 90% confident of their results and want the error of the interval estimate to be no more than $100.
The standard deviation was $21,330. At the .01 significance level, can we conclude that there is more variation in the selling prices of the oceanfront homes?
The average hourly wage last year for members of the hospital clerical staff in a large city was $6.32. The standard deviation of the population was $.54. This year a sample of 50 workers had an average hourly wage of $6.51. Test the claim at alph..
What is a nonparametric procedure? Describe specifically when you would utilize a nonparametric test. Under what conditions should you use the Wilcoxon sum rank test?
A roulette wheel has 38 slots, numbered 0, 00, and 1 to 36. The slots 0 and 00 are colored green, 18 of the others are red, and 18 are black.
Write down the differential equations which describe the probabilistic behavior of the unit in time as a Markov process.
An accounting firm has recently recruited six graduates: three men and three women. Three of the graduates are to be selected at random to work in the firms suburban office. Construct a probability tree.
Demonstrate your understanding of choosing the type of regression model to the given data, by explaning three factors that should be taken into account in the choice between different models.
Is the estimate from the participants significantly higher than the actual number (µ = 3.1)? Use a one-tailed test with = .05.
Make a forecast for 2005, using a trend model of your choice or a judgment forecast. Discuss. Note: Time increments are 5 years, so use t = 6 for your 2005 forecast.
We could then perhaps form a linear regression by charting the points of IQ for each person and their mother on a graph to determine if a correlation can be made between the IQ score of the individual and the IQ score of the mother. If the scores ..
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