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ank of America's Consumer Spending Survey collected data on annual credit card charges in seven different categories of expenditures: transportation, groceries, dining out, household expenses, home furnishings, apparel, and entertainment. Using data from a sample of 42 credit card accounts, assume that each account was used to identify the annual credit card charges for groceries and the annual credit card charges for dining out. Using the difference data, the sample mean difference was = $850, and the sample standard deviation was sd = $1123. Which category, groceries or dining out, has a higher population mean annual credit card charge? What is the point estimate of the difference between the population means? What is the 95% confidence interval estimate of the difference between the population means?
The insurance company charges an annual rate of $250 for the collision coverage. What is the expected value of the collision policy holder?
If one of these respondents is randomly selected, what is the probability of getting someone who has been in a car accident?
A random check of 81 records of inmates from all federal prisons found the confidence interval for mean prison terms per prisoner to be 2.113 years to 2.287 years.
Determine the critical region and critical values for z that would be used to test the null hypothesis at the given level of significance, as described in each of the following:
A firm engaged in manufacturing undergarments for gents employs 100 male and 144 female workers. The average production per day of a male worker is 60 items with a variance of 15 items, and that of a female workers is 65 items with a variance of 1..
A study is conducted to assess the impact of caffeine consumption, smoking, alcohol consumption, and physical activity on the risk of cardiovascular disease.
An airline has a policy of booking as many as 17 persons on an airplane that can seat only 16. Find the probability that if the airline books 17 people, not enough seats will be available.
Based on your experience using ANOVA and Nonparametric tests, what additional information would you recommend to the key decision maker solve the challenges given in a company that provides software solutions to wide range of clients?
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?
Using the .05 significance level, can we conclude that there is a positive association between the two variables?
The lifetime (hours) of an electronic device is a random variable with the exponential probability density function:
A school administrator randomly selects 12 classes from your school and then selects all of the students of those classes to study a school library issue. Which type of sampling design is being used.
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