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By adding Michael Jordan's $30 million the shape of the curve would no longer be bell-shaped but would become positively skewed. Furthermore, the distribution of the annual salaries would no longer be symmetrical as it would be incorporating the $30 million which is an outlier as NBA players do not make any where near this amount annually. The best measure of central tendency for this scenario would be to use median as it is not affected by extremely large values.
Avalon Bakery would like you to recommend how many loaves of its rye bread to bake at the beginning of each day. Each loaf costs the bakery $3.00 and can be sold for $6.00.
What is the proportion of people surveyed that rated the subway system from 3 to 4. What is the proportion of people surveyed rated the Subway System from 1 to 3.
What is the difference between a point estimate and an interval estimate? How would you calculate a confidence interval with a z test?
calculate the mean or expected value for the number of retransmissions and calculate the standard deviation for the number of retransmissions.
FINRA is considering three alternatives for providing food services (breakfast and lunch) to its employees: creating a company owned food service and hiring its own staff, hiring an outside vendor to provide food services (outsourcing), or a combi..
If she performs 15 demonstrations this week, what is the probability of her being satisfactory? What is the probability of between 4 and 8 (inclusive) orders?
You are investigating the flight characteristics of different kinds of birds. You collect a sample of 33 European swallows (Hirundo rustica) and measure their air-speed velocity in a borrowed wind tunnel.
A medical researcher found a significant relationship among a person's age x1, cholesterol level x2, sodium level of the blood x3, and systolic blood pressure y.
How do research questions frame studies? What type of wording would lead to a qualitative study? A quantitative one?
Compute the value of z and state your decision regarding the null hypothesis.
Critically discuss understanding the normal distribution and the factors that affect its shape important in solving business and marketing-related questions?
In an evaluation of the medical lab, the manager is interested in the efficiency of three technicians when they process four routine blood tests.
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