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Put all of this together to simulate the lost revenue due to copier breakdowns over 1 year to answer the question asked in the case study.
In a word processing program, write a brief description/explanation of how you implemented each component of the model. Write 1-2 paragraphs for each component of the model (days-to-repair; interval between breakdowns; lost revenue; putting it together).
Answer the question posed in the case study. How confident are you that this answer is a good one? What are the limits of the study? Write at least one paragraph.
The clinic estimates that the true population standard deviation is around $2,100. If the confidence level is 95%, find the required sample size in order to meet the desired accuracy.
Write a brief statement of purpose of the study. Define the population. State the hypotheses for the study. Select an a value
Draw a tree diagram representing this experiment. Use this tree diagram to find the probabilities below.
Martin Motors has in stock three cars of the same make and model. The president would like to evaluate the gas consumption of the three cars (labeled car A, car B, and car C) using four different types of gasoline. For each trial, a gallon of gaso..
In a sample of 210 men, 35 prefer sugar free soft drinks. In a sample of 220 women, 42 prefer sugar free soft drinks. Using a significance level of 0.05, test whether women prefer sugar free drinks more than men. Calculate the p-value.
The proportion of left handers is 0.10. What is the number of left handers in the sample and what notation is given to that number?
Using the z table in Table E of Appendix C, determine the critical value for the hightailed test with a = 0.035.
Assume that the population is normally distributed. Can we conclude, at the level of significance, that the mean lifetime of light bulbs made by this manufacturer differs from months?
Describe when a z-test should be performed as opposed to a t-test? Which (if any) can we use all the time? Why or why not?
Given this information we could use a Z test for two independent means and conclude that indeed the sales are different when the soup is a featured item.
What is the probability that a simple random sample of auto insurance policies will have a sample mean within $25 of the population mean for each of the following sample sizes: 30, 50, 100, and 400.
In exercise identify (a) sample and (b) population. Also, find whether sample is likely to be representative of population.
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