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In a particular region of Cape Cod, it is known that lobstermen trap on average of 32 pounds of lobster per day with a standard deviation of four pounds. If a random sample of 30 lobster fishermen is selected, what is the probability that their average catch is less than 31.5 pounds?
At a 5% level of significance, is there sufficient evidence that the population mean waiting time is now less than 3.7 minutes?
You are a realtor with a small business. You use a simple 2 variable linear regression analysis for quick first glance house price estimates using square footage of the house.
Explain your answer to someone who is familiar with the t test for a single sample, but not with the t test for independent means.
PiggyBank has narrowed its options down to two incentive plans: A. cash back when the consumer makes an online purchase; and B. cash back when the consumer makes a purchase at a clothing store. The bank doesn't know whether consumers would shop on..
Construct a stem-and leaf display for the data set? Construct a box plot for the data set? Draw conclusions about the data (e.g. are there any outliers, etc, etc.).
In what sense is this business problem? A societal problem? An individual problem?
suppose that replacement times for washing machines have a mean of 9.3 years and a standard deviation of 1.1 years.
Construct a 99% confidence interval for the mean bill of a customer. A) [31.355, 32.645] B) [29.747, 34.253] C) [29.421, 34.579] D) [29,740, 34.260] E) [28.570, 35.570].
Assume the population standard deviations are not the same. At the .05 significance level, is there a difference in the mean waiting time?
A. what is the probability a randomly chosen business customer flying is on a jumbo jet? B. what is the probability a randomly chosen non-business customer is on an ordinary jet?
With a 98% level of confidence a company producing street signs wants to make sure the length of their product is meeting quality standards.
The Sony corporation produces a Walkman that requires two AA Batteries. The mean life of these batteries in this product is 35.0 hours. The distribtion of the battery lives closely follows the normal probability distribtion with a standard deviati..
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