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The head librarian at the Library of Congress has asked her assistant for an interval estimate of the mean number of books checked out each day. The assistant provides the following interval estimate: from 740 to 920 books per day. If the head librarian knows that the population standard deviation is 150 books checked out per day, and she asked her assistant for a 95% confidence interval, approximately how large a sample did her assistant use to determine the interval estimate?
200 people were surveyed and asked to rate mayor Michael Bloombergs effectiveness towards education. The rate scale is 1 (lowest) to 10 (highest). Mayor Bloomberg's average rating was 7.50, with a standard deviation of 2
You are trying to set up a portfolio that consists of a corporate bond fund and a common stock fund. the following information about the annual return (per $1,000)of each of these investments under different economic condition is available
Stock A has an expected return of 12% and a standard deviation of 40%. Stock B has an expected return of 18% and a standard deviation of 60%. The correlation coefficient between Stocks A and B is 0.2.
A machine is adjusted so that when under control, the amount of sugar filled in a bag is normally distributed with a mean amount of 5 pounds.
a) Determine the proportion of instances that the duration was less than 240 seconds. Also express the proportion as a percent. (hint: proportion is number of successes divided by total number.)
In checking the quality of the work, she notices that some slight blemishes occasionally are apparent. A sample of 20 pieces of work resulted in the following number of blemishes on each piece:
Define, describe and provide an example of the Komologrov-Smirnov distribution. Use MS-Excel (if possible) to solve this problem, also Show all your work in obtaining the answer.
A fast food chain restaurant chain claims that lunch will be served within nine minutes of placing your order, or it is free. A sample of eight customers revealed the following waiting times in minutes:
Determine probability of waiting less than 12 minutes between successive speeders. By using cumulative distribution function of X.
Can we conclude that the mean time for a game is less than 3.50 hours? Use the .05 significance level.
At the significance level 0.01 is there sufficient evidence to conclude that a difference exists in the mean time required for the elimination of the rash?
We wish to create this mean value interval for selling price with 95% confidence level. Find out the best point estimate (average) for selling price. Critical t-value(s) associated with 95% confidence level.
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