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Land's Beginning is a company that sells its merchandise through the mail. It is considering buying a list of addresses from a magazine. The magazine claims that at least 25% of its subscribers have high incomes (they define this to be house-hold income in excess of $100,000). Land's Beginning would like to estimate the proportion of high-income people on the list. Checking income is very difficult and expensive but another company offers this service. Land's Beginning will pay to find incomes for an SRS of people on the magazine's list. They would like the margin of error of the 95% confidence interval for the proportion to be 0.05 or less. Use the guessed value p = 0.25 to find the required sample size.
Test the claim that the mean age of the prison population in one city is less than 26 years. Sample data are summarized as n = 25, x = 24.4 years, and s = 9.2 years. Use a significance level of α = 0.05.
The Scatter plot can more easily be generated using the Chart procedure.
In a clinical study of an allergy drug, 115 of the 204 subjects reported experiencing significant relief from their symptoms. At the 0.01 significance level, test the claim that more than half of all those using the drug experience relief.
Perform a hypothesis test with significance level 5%. Show all work, and clearly state your conclusion.
Rank the funds by using this alternative measure of risk. Which, if any outperformed the market on the risk-adjusted basis.
Does your analysis change if the term "average" refers to the mean? To the median? Explain what effect this misinformation might have on the perception of the nation's schools.
What is the probability that a person who has submitted one entry will win the following?
Compute mean x and standard deviation s of data above. Calculate Ho by using traditional/classical method.
Here is a simple probability model for multiple-choice tests. Assume that each student has probability p of correctly answering the question chosen at random from universe of possible questions.
Determine the chance between 39% and 41% of registered voters in sample are Democrats.
The law of large numbers tells us what happens in the long run. Like many games of chance, the numbers racket has outcomes so variable-one three digit number wins $600 and all others win nothing-that gamblers never reach "the long run".
Suppose the probability of the worst-case scenario increases Compute the expected value of perfect information
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