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The amounts of money requested on home loan applications at a particular bank follow the normal distribution, with a mean of $80,000 and a standard deviation of $24,000. A loan application is received during the day. By hand:
a. Find the probability that the amount requested amount is $90,000 or more?b. Find the probability that the amount requested is between $75,000 and $90,000?c. How much is requested on the largest three percent of loans?d. How much is requested on the smallest ten percent of the loans?
Explain in managerial terms what is meant by "use an alpha level = .05." Do you agree with her suggestion? If so, explain why. If not, explain why and indicate the alpha level you would use instead.
What is a point estimate of the P/E ratio for the population of stocks listed on the New York Stock Exchange? Develop a 95% confidence interval.
According to a survey 41 % of major US companies electronically monitor their employees. Suppose that 5 such companies are selected independently and at random.
If the organization's claim is correct, what is the probability of having a sample mean of 114.6 or less for a random sample of this size?
Human populations can be modeled using an exponential growth function. Use the Library for research or other resources to find the following:
Confidence interval for the true mean and Evaluate the 95% confidence interval for the true mean advertising expense?
Suppose the random variable X is normally distributed with mean =50 and standard deviation =7 calculate P(X).
A confidence interval for the population mean tells us which values of mean are plausible (those inside the interval) and which values are not plausible (those outside the interval) at the chosen level of confidence.
An economics course are independent events, what is the probability that a randomly selected student is registered in either a math course or an economics course?
The average for the test is a 1700 and the population's standard deviation is 50. what percentile rank of students is Logan in based on her SAT score.
A health care professional wishes to estimate the birth weight of infants. How large a sample must she select if she desires to be 90% confident that the true mean is within 6 ounces of the sample mean?
What is the 95% confidence interval for the standard deviation of birth weights at County General Hospital, if the standard deviation of the last 25 babies born there was 1.1 pounds.
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