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The annual commissions earned by sales representatives of Machine Products, Inc. a manufacturer of light machinery, follow the normal probability distribution. The mean yearly amount earned is $40,000 and the standard deviation is $5,000.
The sales manager wants to award the sales representatives who earn the largest commissions a bonus of $1,000. He can award a bonus to 20 percent of the representatives. What is the cutoff point between those who earn a bonus and those who do not?
If measurements are made over span of 9 months, and results are averaged, find out the probability that neighbourhood is considered unsafe?
Decision making under risk is the same as decision making under uncertainty because in both the probabilities are unknown.
If you did not know anything about standard deviation of population from which sample was taken, find out the 95% confidence interval for mean test score.
Based on the information in part (a), what decision should the director make about the books used for the courses if the goal is to keep the cost below $300?
The Spanish patients, two men and two women, were elderly and very ill. All four had undergone routine dialysis at the Hospital de la Princesa. Soon after, they began sweating and vomiting, some of them in excruciating pain. They died within a few..
Find a 90% confidence interval for the mean amount left by all groups.
Last year, television station WXYZ's share of the 10 P.M. news audience was approximately equal to, but not greater than, 25%. The station's management believes (and would like to claim for advertising purposes) that the current share is higher th..
You perform a one sample mean hypothesis test on a random sample of data and observe a p-value of 0.2157. What is the appropriate conclusion? Conclude at the 5% level of significance.
A researcher uses hypothesis test to estimate H0 µ= 80. Which combination of factors is most probable to result in rejecting null hypothesis?
What is the probability that at least 8 of the next 15 errors are due to operator errors? What is the probability that no more than 3/10 failures are due to operators?
Below you are given a partial computer output based on a sample of 16 observations.
a) Compute a 95% Confidence Interval for the true population proportion of successes. b) Based on this analysis can you conclude that the new system meets the requirement? Explain your conclusion.
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