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The number of newspapers demanded daily in a large metropolitan area is believed to be an approximately normally distributed random variable. If more newspapers are demanded than are printed, the paper suffers an opportunity loss, in that it could have sold more papers, and a loss of public goodwill. On the other hand, if more papers are printed than will be demanded, the unsold papers are returned to the newspaper office at a loss.
Suppose that management believes that guarding against the first type of error, unmet demand, is most important and would like to set the number of papers printed at a level such that 75% of the time, demand for newspapers will be lower than that point.
How many papers should be printed daily if the average demand is 34,750 papers and the standard deviation of demand is 3,560?
(a) Can we say that the data are approximately normally distributed? (b) Find a 95% con?dence interval for population mean stopping distance μ.
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The distribution of 9 ounce bags of a particular bag of potato chips is approximately Normal with a mean of 9.12 ounces and a standard deviation of 0.15 ounces.
suppose that z is a random variable with a n0 1 distribution. define a stochastic process via xt ?tz and note that for
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What does it mean if I have a standard error of estimate figure as 25.571?
Use normal approximation to the binomial distribution to determine the answer if this probability cannot be determined explain why.
Compute a 90% confidence interval for the population mean μ of home run percentages for all professional baseball players.
If 25 men aged 18-24 are arbitrarily chosen, determine probability that their mean serum cholesterol level is between 165 and 200.
Then comment on the effectiveness of the presentation: Were the frequency distributions used effectively to report the results? Why or why not?
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