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The average salary for graduates entering the actuarial field is $40,000.
1. The average salary for graduates entering the actuarial field is $40,000. If the salaries are normally distributed with a standard deviation of $5,000, find the probability that
a) An individual graduate will have a salary over $45,000.b) A group of nine graduates will have a group average over $45,000.
If p is the probability of Event 1 and (1-p) is the probability of Event 2, based on the expected returns, for what values of p would you select A? B? C? Values in the table are payoffs.
Conduct a one-tailed hypothesis test given the information below. A certain brand of Green Energy light bulbs was advertised as having an average illumination life-span of 2,500 hours.
To determine if there is a relationship between grade performance and extracurricular participation, North Carolina state conducted a study of 112 students, recording the number of students in each of three extra-curricular categories, and each of..
Results sufficient to conclude that the self-hypnosis has a significant effect? Assume that increasing and decreasing allergic reactions are equally likely if the training has no effect. Use a = .05.
In testing the independence of two variables described in a contingency table, determine the critical value of chi-square if the test is to be conducted at the
The null hypothesis is to be tested at 95% confidence. Determine the critical value for this test. What do you conclude?
Find the probability that the age of a randomly selected CEO will be between 56-57 y/o. (round to 4th decimal) The probability a randomly selected CEO will be between 56-57 y/o is?
Of 146 adults selected randomly from one town, 31 of them smoke. Construct a 99% confidence interval for the true percentage of all adults in the town that smoke.
If we fit the least-squares line to the 12 data points (one for each month) we obtain the following results from a software package. Notice that temperature is taken as the explanatory variable and crawling age as the response.
Test the null hypothesis that these Arizona students scored the same as the North Dakota students. (238 North Dakota students had a mean of 525)What t-statistic do you obtain?
At a 0.05 level of significance, determine if there is a significant difference in the mean weekly units of production for the three types of work schedules (perform all six steps of hypothesis testing and show the ANOVA table).
Suppose that a certain college class contains 45 students. Of these, 26 are sophomores, 25 are chemistry majors, and 7 are neither. A student is selected at random from the class.
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