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Gulf Real Estate Properties just signed contracts for two new listings: a Gulf View condominium with a list price of $589,000 and a No Gulf View condominium with a list price of $285,000. What is your estimate of the final selling price and number of days required to sell each of these units?
What is the probability that a random sample of size 400 will have less than 49% of the people who balance their checkbooks at least once per month?
What facts and/or statistics would you need to know to expose this misleading claim? The larger the sample, the more reliable the results." Do you agree or disagree with this statement? Explain.
Following data represent random sample of bank balances for population of checking account customers at large eastern bank. Based on data, determine the 95 percent confidence interval estimate for true population mean?
21st Century Insurance Company claims that telephone calls for policy holder information are answered in at most 3 minutes. A random survey of 36 phone calls results in the mean 3.3311 and standard deviation 2.1788.
A random sample of 180 full-grown lobsters had a mean weight of 16 ounces and a standard deviation of 3.0 ounces. Construct a 98 percent confidence interval for the population mean.
11% needed to be serviced once, 5% twice, 4% three times, and none required more than three repairs. what are the expected no of repairs per year.
The standard deviation of the sample was 6 people. Develop a 95 percent confidence interval for the population mean.
An internal study by the Technology Services department at Lahey Electronics revealed company employees receive an average of two emails per hour. Suppose the arrival of these emails is approximated by the Poisson distribution.
Suppose that 50% of all people are opposed, evaluate probability of getting at least 89% opposed in survey of 1012 randomly selected people.
A vending machine dispenses coffee into a twelve ounce cup. The amount of coffee dispensed into the cup is normally distributed with a standard deviation of 0.08 ounce.
A recent study of the USA births showed the average birth weight of a male was 8 lbs.; the average weight of a female newborn was 7.4 lbs.
Carefully define a standard normal distribution. Why does a researcher want to go from a normal distribution to a standard normal distribution? Explain.
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