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The average salary for graduates entering the actuarial field is $40000. If the salaries are normally distributed with a standard deviation of $5000, find the probability that a) an individual graduate will have a salary over $45000 and b) A group of nine graduates will have a group average over $45000.
Determine the margin of error in estimating the population mean. a sample of 68 college students yields a mean annual income of $3248.
Assume that your students are a sample of all fourth graders in your state and you can use your student data to test some ideas. What is the major problem with your assumption.
A sample of 25 provided a sample mean of 14 and a sample standard deviation of 4.32. What is the value of "t" for this sample? For a 95% confidence level, what is the critical value of "t"?
Normally distributed about a mean value of 580 with a standard deviation of 60. Determine what percentage of the students scored higher than 750 on the exam.
Operators are to answer telephone calls from customers in an average time of 0.1 minute or less, and either respond to or refer to the proper department within 0.5 minute.
Students revealed and average cost of books of $370 per student. The Dean of Students believes that cost are greater this semester. What is the test value for this hypothesis?
Data follow. Use Excel to create the 90% confidence interval estimate of mean age of all of this magazine's subscribers.
A test of 45 capsules had a mean weight of 20.9 milligrams and a standard deviation of 0.3 milligrams. Test the makers claim at the 95% confidence level.
Use the sales forecaster's, predictions to describe a normal probability distribution that can be used to approximate the demand distribution.
A professor asked her sophomore students, "How many drinks do you typically have per session? (A drink is defined as one 12oz beer, one 4oz glass of wine, or one 1oz shot of liquor.)"
Body mass index is measured as the ratio of weight in kilograms to height in meters squared. Generate a 95% confidence interval estimate of the true BMI.
If the market research gave a positive indication the price would be £35,000. If the market research gave a negative indication the price would be only £3,000.
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