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1. Summarize a business problem and describe both the sampling technique and the sample size that you would require to set up a research project to solve this problem.
2. A situation occurs at your company where you are trying out a new process improvement for invoice processing. Data are collected for a week before the implementation and it takes the department 5.3 hours to process the invoice with a sd of 7.6. Afterwards, the department can process the invoice in 4.7 hours with a sd of 8.3. The project manager declares this test a success and wants to implement this new process in the rest of the company. After doing a t-test, you do not find significance, as there is too much variability in the data both before and after. What would you do in this situation?
3. Describe a business situation that you have had or might face that will benefit from the use of confidence intervals?
Determine a 99% confidence interval for mean pH in rainfall. How would you distinguish interval?
By using 0.05 level of significance, is there any evidence of difference in mean life of bulbs produced by two kinds of machines?Calculate p-value and interpret its meaning.
A study of 40 bowlers showed that there average score was 186 the standard deviation of the population is 6. Find the 95% confidence interval of the mean score for all bowlers.
What percent of sales representatives earn more than $42,000 per year?
Calculate correlation coefficient for these sample data.
Elucidate the null and alternative hypothesis for the difference among the two means. In testing the difference between the means of two.
Test out an suitable hypothesis also state your conclusion. Make sure the suitable assumption as well as conditions are satisfied before you proceed.
If the company does not want to replace more than 5% of the televisions?
Triathalon Times Jeff Parent is a statistics instructor who participates in triathalons. Listed below are times (in minutes and seconds) he recorded as riding a bicycle for five laps through each mile of a 3-mile loop.
Make up a scatter diagram with 10 dots for each of the following situations:
Sales manager wishes to award sales representatives who earn the largest commissions a bonus of= $1,000 .He can award bonus to 20% of representatives. Determine cutoff point between those who earn bonus and those who don't?
Assume Nick doesn't know how his received he suppose that all three states of nature are equally likely to occur. If Nick uses the equally likely criterion illustrate what decision would he make.
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