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A research firm conducted a survey to determine the mean amount people spend at a popular coffee shop during a week. They found the amounts spent per week followed a normal distribution with a population standard deviation of $4. A sample of 49 customers revealed that the mean is $25. What is the 95 percent confidence interval estimate of µ?
Would you play this game if you wanted to make money? What do we expert the value of the results of the game to be?
For adults 60 years or older, they found a mean daily intake of 721 mg with a standard deviation of 454 mg. Using these values for the mean μ and standard deviation σ for the U.S. population:
In the design of the robot to insert the small cylindrical part into a close-fitting circular hole, the robot arm must exert a 90-n force p on the part parallel to the axis of the hole as shown. Determine the components of the force which the part..
Which of the 4 methods of data collection is involved when a person counts the number of cars passing designated location on the Los Angeles freeway system?
Compare the mean of the sampling distribution of sample means with that of the population.
You're a risk manager of ABC company and you are reevaulating your insurance contract. Your insurer has informed you that the expected value of frequency per month for ABC is 2.43.
Explain the differences between longitudinal and cross sectional business research studies. Which two types of probability sampling are best suited for business research and statistical data analysis, and why?
3 voters are randomly selected (with replacement) from a group of 1,500 people. The group is known to be 20% republican. What is the probability that all of them are republicans?
Assume that flight times from SAN to ATL are exponentially distributed with a mean of 4.5 hours and a standard deviation of 0.2 hours. Assume that you must fly from SAN to ATL weekly for the lucrative consulting engagement for one year (52 flight..
The probability that home sales will increase in the next 6 months is 0.25. The probability that the interest rates on loans will go up in the same period is estimated to be 0.74.
Use these statistics to construct a 94% confidence interval for the mean monthly consumption for the population of all Ontario households.
At the .05 level of significance, is there evidence of a difference in variability in the shipping time between the two outlets? What decision should the carpet manufacturer make?
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