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An entrepreneur is considering the purchase of a coin-operated laundry. The present owner claims that over the past 5 years, the average daily revenue was $675 with a standard deviation of $75. A sample of 30 days reveals a daily average revenue of $625. If you were to test the null hypothesis that the daily average revenue was $675 and decide not to reject the null hypothesis, what can you conclude?
There is not enough evidence to conclude that the daily average revenue was $675.There is not enough evidence to conclude that the daily average revenue was not $675.There is enough evidence to conclude that the daily average revenue was $675.There is enough evidence to conclude that the daily average revenue was not $675.
The gambler is paid later as follows, depending on the number of winners he picked. What is his expected gain? Remember, a loss is a negative gain, and that the bookie keeps the gambler's $20.
A manager of a small store wanted to discourage shoplifters by putting signs around the store saying "Shoplifting is a crime!" However, he wanted to make sure this would not result in customers buying less.
To maximize Andre's probability of landing on the net, how far away from the cannon should he position the nearest edge of the net?
Kurt's Adventures, Inc. stock is quite cyclical. In a boom economy, the stock is expected to return 30% in comparison to 12% in a normal economy and a negative 20% in a recessionary period.
A side effect of a certain anesthetic used in surgery is the hiccups, which occurs in about 10 percent of the cases. If three patients are scheduled for surgery today and are to be administered this anesthetic, compute the probability that:
A sample of 64 observations is selected from a normal population. The sample mean is 215, and the sample standard deviation is 15. Conduct the following test of hypothesis using the .03 significance level.
Significance level to test the claim that less than half (.5) of all executives identify that error as being the most common job interviewing error.
In February 2002, the Argentine peso lost 70% of its value compared to the United States dollar. This devaluation drastically raised the price of imported products.
Find the probability taht exactly 6 are satisifed with the airlines. Find the probability that fewer than 4 are satisfied with the airlines. Find the probability that 5 or more are satisfied with the airlines. Find the probability that between 3 a..
A Pew research poll was conducted to investigate opinions about global warming. The respondents who answered yes when asked if there is solid evidence that the earth is getting warmer were then asked to select a cause of global warming.
In the following questions, you should demonstrate your understanding of sampling distribution:
Evaluate probability values using normal distribution and How many students earned more than $36,000? _______
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