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The annual per person consumption of Ice Cream is normally distributed with a mean of 16.5 lbs. and a standard deviation of 2.5 pounds. (U.S. Dept. of Agriculture)
A. Find the probability that a randomly person consumes more than 20 pounds of Ice Cream in a year.
B. If 36 people are selected at random and the average consumption is calculated, find the probability that the mean is less than 16 lbs.
Use α = 0.10 and assume that the population is normally distributed. Write a paragraph that interprets the test's decision.
Conclude whether the given conditions justify using the methods of this section when testing a claim about a population mean µ.
What is the prediction for Home Price if Square Feet = 2,000? (c) Would the intercept be meaningful if this regression applies to home sales in a certain subdivision?
The State Game Commission set on length, if it is desired that 91% of the fish caught may be kept by fisherpersons? There is no limit on size for trout that exceed the minimum.
I have a problem that wants to know the sample size of Illinois republican voters, they want to know the sample size with 95% confidence and 3% margin of error, not sure how to get started.
By using the normal distribution to approximate the desired probability.
Standard deviation was 16. Determine the 99% confidence interval of true mean. Suppose the variable is normally distributed.
These predictions, however, are not very accurate. Discuss at least three reasons why these predictions may not be accurate and offer three ways in which you can increase the likelihood of accurately predicting your customers' purchases.
Perform a proper analysis. Describe your null and alternative hypothesis, report the p-value. What is your conclusion?
A consensus of experts has agreed on the following table of potential NPVs and their likelihoods for a capital budgeting project that involves considerable uncertainty and is therefore risky:
A medical doctor wishes to test the claim that the standard deviation of the systolic blood pressure of deep sea divers is less than 450. To do so, she selected a random sample of 20 divers and found s = 432.
Mean=63.6 Standard deviation=2.5 If 36 data points are arbitrarily chosen, determine the probability that mean is less than 64.
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