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A quality control expert wants to estimate the proportion of defective components that are being manufactured by his company. A sample of 300 components showed that 20 were defective. How large a sample is needed to estimate the true proportion of defective components to within 2.5 percentage points with 99% confidence?
A random sample of 1000 college students ages from 18-25 revealed that 234 voted for the American Idol. Similarly, 198 college students stated they voted in the 2006 midterm elections.
Finding Normal probabilities using standard normal table or Excel built in functions
The majority of the data is basically distributed if there are enough subjects. For instance, if you collected test scores of only a few honor students, the data will most likely not be normally distributed because you would have a sample that did..
Assumed to have 20 pounds of carry-on baggage, find the probability that his total is greater than 195 pounds. Round your answer to three decimal places.
Four percent of the customers of a store buy cigars. Half of the customers who buy cigars buy beer and one fourth of those who buy beer buy cigars. The table is given below:
Carry out the suitable calculations to test for effect modification. Interpret your results.
Using the .05 level, what should the experimenter conclude? (a) Use the steps of hypothesis testing, (b) sketch the distributions involved.
A microeconomist wants to determine how corporate sales are influenced by capital and wage spending by companies. She proceeds to randomly select 26 large corporations and record information in millions of dollars.
Use PHStat to make a box-whisker plot. If PHSTAT has yet to be installed, calculate Xmin, Xmax, Q 1 , Q 3 and median using equation in Class Notes-Quartiles, Percentile & Dectiles.
Agricultural researchers are studying three different ways of planting peanuts to determine whether significantly different levels of production yield will result.
In order to test to see if there is any significant difference in the mean number of units produced per week by each of three production methods, the following data were collected:
Your objective is to maximize the expected utility of your final fortune (after 4 bets). If you are a log-utility investor, determine the optimal policy and find the maximal expected utility.
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