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Question: Suppose it is known that the distribution of purchase amounts by customers entering a popular retail store is approximately normal with mean $25 and standard deviation $8.
a. What is the probability that a randomly selected customer spends less than $35 at this store?
b. What is the probability that a randomly selected customer spends between $15 and $35 at this store?
c. What is the probability that a randomly selected customer spends more than $10 at this store?
d. Find the dollar amount such that 75% of all customers spend no more than this amount.
e. Find the dollar amount such that 80% of all customers spend at least this amount.
f. Find two dollar amounts, equidistant from the mean, such that 90% of all customer purchases are between these values.
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estimating the simple aggregate price index.betts electronics purchases three replacement parts for robotic machines
A researcher has reason to believe that, for an experiment with 50 points, a 95% prediction interval would be of width 4. If the researcher wishes to run a more precise experiment that will result in a 95% prediction interval of width 2, then the ..
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1. The following data is the annual income (in $1,000s of U.S. dollars) taken from nine randomly chosen students in the Hopkins Internetbased MPH program:3 37 102 34 12 111 56 72 17 33
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Case study on Page 635-636 of the text BOOK: (Anderson, Sweeney, Williams, Essentials of Modern Business Statistics w/ Microsoft Excel, 5th ed., South-Western College Pub, ISBN 978-0840062383 )Alumni Giving.
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