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Sugar in Cereal. Different cereals are randomly selected, and the sugar content (grams of sugar per gram of cereal) is obtained for each cereal, with the results given below for Cheerios, Harmony, Smart Start, Cocoa Puffs, Lucky Charms, Corn Flakes, Fruit Loops, Wheaties, Cap'n Crunch, Frosted Flakes, Apple Jacks, Bran Flakes, Special K, Rice Krispies, Corn Pops, and Trix. Use a 0.05 significance level to test the claim of a cereal lobbyist that the mean for all cereals is less than 0.3g.
0.03 0.24 0.30 0.47 0.43 0.07 0.47 0.130.44 0.39 0.48 0.17 0.13 0.09 0.45 0.43
These are the winning numbers. To win the lottery, a person must select the correct 5 numbers in the same order in which they were drawn. What is the probability of winning?
When we move from the basic normal distribution to the sampling distribution of the mean we substitute the standard error of the mean for the standard deviation when we make the conversion to the standardized normal distribution.
A sample of 64 statistics students at a small college had a mean mathematics ACT score of 28 with a standard deviation of 4. Estimate the mean mathematics ACT score for all statistics students at this college. Give the 95% confidence interval.
A consensus of experts has agreed on the following table of potential NPVs and their likelihoods for a capital budgeting project that involves considerable uncertainty and is therefore risky:
Computing the expected values for the given probability distribution and evaluate the expected values of the following probability distributions
Shall we reject the hypothesis that the population mean is 6.0? Interpret the result.
Illustrate what decision should be made depended on the mini-max regret criterion. Decision based on the Mini-max criterion.
Discuss whether this variable should be placed in the model as an ordinary quantitative variable or by means of four 0, 1 indicator variables.
Based on the data, determine the 95 percent confidence interval evaluate for true population mean?
The F-test cannot be used to answer whether or not there is a significant difference between the means.
Data from the Motor Vehicle Department indicate that 80% of all licensed drivers are older than age 25. In a sample of n=60 people who recently received speeding tickets, 38 were older than 25 years and the other 22 were age 25 or younger.
Describe why the normal distribution can be used as an approximation to binomial distribution. What conditions should be met to use the normal distribution to approximate the binomial distribution? Why is a correction for continuity essential.
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