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The company sells lawnmowers for $895 each. The variable cost per lawnmower is $520. The company's monthly fixed costs are $84,500. Using the C-V-P equation, compute the amount of profit the company will have for a month in which the company sells 375 lawnmowers.
A neurologist wants to detect whether the mean response time for drug-injected rats differs from a control group not injected. The control group has the mean response time of 1.2 seconds.
He finds their mean weight to be 17.78 ounces with a standard deviation of 0.4 ounces. Are the cereal boxes lighter than they should be? Let α = 0.01.
The field of statistics can be roughly subdivided into two areas: descriptive statistics and probability.
A standard IQ test has mean of 98 and a standard deviation of 16. We want to be 99% certain that we are 8 IQ points of the true mean. Determine the sample size.
Why are you no longer directly comparing sample means? How does using the F test - the analysis of variance (ANOVA) reduce your Type I error rate? What is the difference between a within-groups and a between-groups variance?
Determine the 90% confidence interval for average days worked by employees in all payroll departments?
Suppose it has been determined that the average number of customers waiting for service is 1.929. There are two servers. Determine:
The weight for a group of 18 month-0ld girls are normally distributed with a mean of 24.4 pounds and a standard deviation of 2.6 pounds. Use the table to find the percentage of 18 month-old girls who weigh more than 27.8 pounds.
Rank the funds by using this alternative measure of risk. Which, if any outperformed the market on the risk-adjusted basis.
Determine margin of error was used in creating confidence interval above? Determine the sample size required to obtain the margin of error of 10.97 with 90% confidence interval?
A cola dispensing machine is set to depense 9 ounces per cup with a standard deviation of .5 oz .THe manufacturer would like to set the control limits so that for samples of 16,
Determine the probability, using binomial distribution, of obtaining 4 or more nonconforming units when sampling 30 computers from batch known to be 10% nonconforming.
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