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Question: Find out the current minimum wage and the current Consumer Price Index. (These were available as of November 2003 at the Web sites https://www.dol.gov/esa/minwage/chart.htm and https://www.bls.gov/ cpi/, respectively.) Determine what the minimum wage should be at the current time if it had kept pace with inflation from
a. 1950, when the CPI was 24.1 and the minimum wage was $0.75 an hour.
b. 1960, when the CPI was 29.6 and the minimum wage was $1.00 an hour.
c. 1990, when the CPI was 130.7 and the minimum wage was $3.80 an hour.
A biometric security devise using fingerprints erroneously refuses to admit 1 in 1000 authorized persons from a facility containing classified information. The device will erroneously admit 1 in 10,00,000 unauthorized persons.
You are interested in knowing if there is a statistical difference in driving speeds between Day 1 and Day 10. Which statistical test would be appropriate? Why?
In 1997, 39.4% of men had made orders by phone in the last 12 months a market research analyst feels that this percentage has declined because of internet purchases. she obtains a random sample of 500 men and determines that 191 of them have made ord..
the average act score in minnesota in 1986 was 19.4. assuming a standard deviation of 2.0 find approximate the
The weight of a one cubic yard bag of landscape mulch is normally distributed with a mean of 40 pounds and a standard deviation of 2 pounds. What is the probability that a bag will weigh less than 40 pounds?
A medical researcher wants to know how lifetime sun exposure affects the risk of skin cancer for persons over 50 years old. Describe how data might be collected for a retrospective case-control study.
Suggest applications of nonparametric methods to solving business related problems. Describe the example. How are you or could you use nonparametric methods to solve business related problems?
a prospective purchaser of a toy store wishes to estimate the mean dollar amount of sales per customer at a toy store
a regional director responsible for business development in the state of pennsylvania is concerned about the number of
Your manager, who just read an abridged version of a statistics book, wants you to test hypotheses for the difference in two population means.
a box contains 3 red balls 4 white balls and 3 green balls 2 balls a taken without replacement. what is the
a population proportion is to be estimated. estimate the minimum sample size needed to achieve the specified margin of
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