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An auditor takes a randon sample of size 49 from a population of 1500 accounts receivable. The mean value of the accounts receivable for the population is know (from a previous large survey) to be $3000 with the standard deviation of $400. Find the 99% confidence interval for the sample mean.
Construct the payoff table for this decision situation. Compute the expected value of each alternative amount of milk that could be stocked, and select the best decision.
How can you answer the dual simplex question with maximization objective function and also explain difference between m tecnique and two phase method?
What are the theoretical considerations of hypothesis testing and why are these considerations important when conducting research studies?
The President of the American Insurance Institute wants to compare the yearly costs of auto insurance offered by two leading companies.
Reccomend asprin for their patients with children Conduct a hypothesis test using the P-Value method. What conclusions would you make when a=o.2 and a=0.02.
What is the value of the test statistic and decision? Show step by step on how you obtained your final answer.
Construct the 95 percent confidence interval for the difference between the two population means.
What is the probability that the person thinks that "Made in America" ads boost sales and uses social media online?
What maximum variance of the raw score population could you have and still be able to reject the null hypothesis of μ = 20 (α = .05), if the sample size is 100 and the sample mean is 22?
Describe why the normal distribution can be used as an approximation to binomial distribution. What conditions should be met to use the normal distribution to approximate the binomial distribution? Why is a correction for continuity essential.
Electrical connectors manufactured by a supply company last an average of 18.2 months and follow a normal distribution with a standard deviation of 1.7 months.
What is the mean and standard deviation of the number preferring the incumbent and what is the probability that more than 68% will favor the incumbent?
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