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Two independent random samples have been selected 350 observations from population 1 (dual degree students) and 310 from population 2 (MBA students). The sample means obtained are X1(bar)=84 and X2(bar)=87. It is known from previous studies that the population variances are 4.6 and 5.0 respectively. Using a level of significance of .05, is there evidence that the dual degree students are receiving lower grades?
A sample of n=20 has a mean of M = 40. If the standard deviation is s=5, would a score of X= 55 be considered an extreme value? Why or why not?
If the distribution of movie admission charges is approximately normal with a standard deviation of $ 0.89 . What is the probability that a randomly selected admission charge is between 6 and 8.2 dollars?
Calculate the profit earned/loss incurred on; a high performance tire that exceeds 40,000 miles, a high performance tire that does not exceed 40,000 miles.
There is uneasiness that the users of paper coupons are different from the users of e-coupons (coupons disseminated by means of the Internet).
How does a linear regression allow us to better estimate trends, costs, and other factors in complex situations?
Fair die is rolled 10 times. Determine the probability that the odd number (1, 3 or 5) will occur less than 4 times?
Explain the purpose of the chi-square test for independence. Provide some practical examples where this test might be used in business.
An automobile assembly line operation has a scheduled mean completion time,u , of 12.6 minutes. The standard deviation of completion times is 1.8 minutes.
You need to estimate the mean number of travel days per year for outside salespeople. The mean of a small pilot study was 150 days, with a standard deviation of 42 days.
To test whether the population mean is less than a specified value.
The average cost of a one bedroom apartment in a town is $550 per month. What is the probability of randomly selecting a sample of 50 one bedroom apartments in this town and getting a sample mean of less then $530 if the population standard deviat..
If test results over long period of time illustrate that 5% of x values are over 2.1 pounds and 5% are under 1.9 pounds, determine mean and standard deviation for population of products produced with this process?
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