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The average gasoline price of one of the major oil companies in Europe has been $1.25 per liter. Recently, the company has undertaken several efficiency measures in order to reduce prices. The management is interested in determining whether their efficiency measures have actually reduced prices. A random sample of 49 of their gas stations is selected and the average price is determined to be $1.20 per liter. Furthermore, assume that the standard deviation of the population is $0.14.
1. Formulate the hypothesis
2. Calculate the p-value
3. What is the conclusion
Gallup Polls When Gallup and other polling organizations conduct polls, they typically contact subjects by telephone. In recent years, many subjects refuse to cooperate with the poll.
Determine the probability of choosing at random license plate which ends in the even number?
According to an IRS study, it takes a mean of 330 minutes for taxpayers to prepare, copy and electronically file a 1040 tax form. The distribution of times follows the normal distribution and the standard deviation is 80 minutes. A consumer watchd..
A. What is the 90% confidence interval for the daily sales at all restaurants. B. What is the probability that the average sales are really $32,000 or more per day? Assume that the population average is $30,000 per day and the std. Deviation is $2..
At the time she was hired as a server at the Grumney Family restaurant, Beth Brigden was told, "You can average at least $20 a day in tips." Over the first 35 days she was employed at the restaurant
He is sorry but there is a 99.9% (1-0.001) chance that you have HIV. Is he correct? What is the actual probability that you are HIV positive?
The following table describes the asset allocation of your portfolio with the corresponding return in percentage, X, and the proportion of that specific asset in the portfolio, P(X).
What is the probability that a randomly selected cell phone bill is more than $67.75?
Suppose that 1% of all people have a particular disease. A test for the disease is 99% accurate. This means that a person who test positive for the disease has a 99% chance of actually having the disease
Is there evidence that teams with higher total payrolls tend to be more successful? Justify your answer.
Draw the complete decision tree and determine whether the product should be launched or not.
Suppose it has been determined that the average number of customers waiting for service is 1.929. There are two servers. Determine:
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