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It is known that 15% of all homeowners pay a monthly mortgage of more than $1800 and that the standard deviation of the monthly mortgage payments of all homeowners is $278. Suppose that the mortgage payments of all homeowners have a normal distribution. What is the mean monthly mortgage paid by all homeowner?
As a way of fund raising, you decide to set up a hot dog stand, after a few weeks of doing this you sell 8 hot dogs every 10 minutes.
R.C. Geary wrote some 70 years ago that "Normality is a myth. There never was, is, nor will there ever be a Normal distribution".
What is the probability that none are a commercial success?
A certain disease occurs in 35% of the population. A test for the disease is fairly accurate: it misclassifies people with the disease as healthy 6% of the time and reports that a healthy person is diseased just 7% of the time.
Projection are form the U.S. National Center for Education Statistics>. Create a multiple bar graph of data, and then explain any trends.
If and are the proportions of all college males and females correspondingly, who worked last summer, the z statistic (±0.01) for a test comparing the proportions of college men and women who worked last summer is??
A researcher hypothesized that the variation in the car rental rates (in US$/day) at a major city airport is less than in the car rental rates down town.
Based on the custom "rule-of-thumb" for estimating the standard deviation, if the range of prices for a product sold in Kansas City is between $99 and $349, an estimate of the standard deviation of the prices would be about:
P-value to test hypotheses,
If the average tax payer who makes $140,000 per year owes the government $18,200 with a standard deviation of $1500, and the IRS receives a 1040 tax documents from a customer who earned $140,000 that claims he only owes $12,000, should the IRS sus..
The consequences of the central limit theorem is that if we end up averaging the measurements of a particular quantity, the distribution of an average tends on going toward a normal one?
Find the confidence interval for the mean price, μ, of all dealer sticker prices of new cars: for a confidence level of 90% in thousands of dollars:
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