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Tom Sevits is the owner of the Appliance Patch. Recently Tom observed a difference in the dollar value of sales between the men and women he employs as sales associates. A sample of 40 days revealed the mean sold a mean of $1,400 worth of appliances per day with a standard deviation of $200. For a sample of 50 days, the women sold a mean of $1,500 worth of appliances per day with a standard deviation of $250. At the 0.05 significance level can Mr. Sevits conclude that the mean amount sold per day is larger for the women?
Is there evidence of a significant difference in the proportion who get their news primarily from newspapers between those 36 to 50 years old and those above 50 years old? (use α = 0.05)
If a technical breakthrough occurred that raised the profit per unit of X 1 to $3, would this affect the optimal solution?
Determine the expected shape of distribution of sample mean? Compute the likelihood of choosing a sample with mean of at least $112,000?
Calculate the probability that the median of the sample or average medians is:
To test productivity quickly, he has his shift foremen record number of defective T-shirts made in randomly sampled week. Critical Value: t =Test Statistic (Show procedure.): t =?
If there is an outage, there is a .05 probability that the resulting losses will be very large, approximately $ 80 million in lost earnings. Also, it is estimated that there is a .95 probability of only slight losses of around $ 1 million. What is..
A game involving a pair of dice pays you 3 with probability 17/36, costs you 2 with probability 14/36, and costs you 4 with probability 5/36. What is your probability of losing money in one play of the game?
Method of assigning probabilities based on historical data is known the?
How many subjects would you approximately need to reduce the length of the 95% confidence interval to 2 units?
Computing the probability values using normal distribution - Find the probability that a regular rat (without the supplement) would solve the maze with a score less than or equal to X = 24 errors?
Determine what analysis would you do on each problem (ie, one-sample z-test, one-sample t-test, proportion test, two-sample independent t-test, or paired test)?
Assume that for population of students at school, distribution of x is well approximated by normal curve with mean 48 min and standard deviation 4 min.
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