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The probability distribution of the daily demand for a product is shown below.
Demand Probability0 0.051 0.102 0.153 0.354 0.205 0.106 0.05
a. What is the expected number of units demanded per day?b. Determine the variance and the standard deviation.
An election poll reported that a candidate had an approval rating of 34% with a margin of error E of 2%. Construct a confidence interval for the proportion of adults who approve of the candidate.
At the .05 level, you are testing whether there is a significant difference in the proportions of college students and similar aged non college students having accidents during the two year period. If you determine not to reject the null hypothesi..
This second sample had an average response of 132 with a sample variance of 16. What is the pooled standard deviation for this problem?
How does one find expected profit from a probability demand distribution?
Compute Pearson's correlation coefficient between age and amount spent on this particular product.
Fairfield homes is developing two parcels near Pigeon Fork, Tenn. In order to test different advertising approaches, they use different media to reach potential buyers.
If Smith checks 300 of the 7500 welds completed that shift, what is the probability that he will find fewer than 20 substandard welds?
The company sells lawnmowers for $895 each. The variable cost per lawnmower is $520. The company's monthly fixed costs are $84,500.
What does this data tell us by itself before we do anything with it such as doing hypothesis testing or comparing it to other data? How can this be used by the M&M company?
Why do the critical values from the Chi-square distribution get larger as the degrees of freedom get larger? Recall that this is opposite the pattern for the t-table.
What is the Bonferroni adjustment? What would the Bonferroni adjustment be for a study with four groups for which a researcher decided to use t-tests?
On the basis of the sample results, can we conclude that the mean annual lease rate is higher in Hong Kong than in Paris? Develop appropriate null and alternative hypotheses.
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