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According to records, the amount of precipitation in a certain city on a November day has a mean of .10 inches, with a standard deviation of .05 inches. What is the probability that the mean daily precipitation will be .107 inches or less for a random sample of 40 November days (taken over many years)? Carry your intermediate computations to at least four decimal places. Round your answer to at least three decimal places.
What are various non-parametric tests utilized in business decision making? Give an example of each test with an appropriate business situation.
How do the graphical and computer-based methods of solving LP problems differ? In what ways are they the same? Under what circumstances would you prefer to use the graphical approach?
A sample of 40 random weeks finds a weekly loss mean of $3200 with a standard deviation of $750. Test their claim at the a=0.05 level.
How can we be certain that surveys and statistics that we hear about in the media are accurate samples and unbiased? Is there a way to dissect the information and determine if a probability sample was used?
A random sample of n=100 observations is selected from a population with mean of 29 and sandard deviation of 21. Approximate the probabilities shown below
In a water treatment plant, the turbidity level, and is suspected is linearly related to inches of accumulated rainfall in the month, x. The following information related to the waste water plant is available:
What can we say about the probability distribution of x? Is it approximately normal? What are the mean and standard deviation?
If the company's report is correct, what is the probability that the average balance of an account in the sample is $383 or less?
The probability of recovery for a certain disease is 0.65 or 65%. If 50 people are stricken, what is the probability that
A researcher conductued a study of the access speed of 35 hard drives and concluded that his maximum error of estimate was 35. If he were to conduct a second study to reduce the maximum error of estimate to 7, about how many hard drives should he ..
In a specific company, there are three levels of workers: skilled, unskilled, and manager. The owner of this company wants to know if the level of job satisfaction differs amongst the three levels of workers.
A real estate broker hoped to develop an equation that could be used to predict the sales price of homes in a certain suburb. It seemed to him that the most important variable
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