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1. The net profit of an investment is normally distributed with a mean of $10,000 and a standard deviation of $5,000. The probability that the investor's net profit will be between $12,000 and $15,000 is _____________.
a) 0.8413
b) 0.1859
c) 0.4967
d) 0.3413
2. When the rod shearing process at Stockton Steel is "in control" it produces rods with a mean length of 120 inches. Periodically, quality control inspectors select a random sample of 36 rods. If the mean length of sampled rods is too long or too short, the shearing process is shut down. Sarah Shum, Director of Quality Programs, chose a 0.05 level of significance for this test. The critical z values are _________.
a) -1.75 and 1.75
b) -1.96 and 1.96
c) -1.645 and 1.645
d) -2.33 and 2.33
A consumer organization estimates that over a 1-year period 17 percent of cars will require to be repaired once, 7 percent will need repairs twice, and 4 percent will require three or more repairs. What is the probability that a car chosen at rand..
What is the probability that at least three students choose Supreme Chocolate?
Your customers have been divided into 3 groups. The first group represents 15% of customers, and these customers spent an average of $29.76 last year.
The following data represent the cost of electricity for the period of July 2008 for a random sample of 50 one-bedroom apartments in a large city.
Todd is less interested in testing a hypothesis than he is in developing an estimate for what people would be willing to pay. He would like 95% confidence intervals for the average price people would be willing to pay
The probability distribution of a random variable X is shown below, where X represents the amount of money (in $1,000s) gained or lost in a particular game of Blackjack.
The student with the 92 found a grading error on her exam and her correct grade was 95. There were no other grading errors. After correcting this student's paper, the five number summary for the midterm exam will be
Marie claims she can predict the sex of pregnant women's babies for first-time new mothers. She sees 1000 women a year, and she always predicts a female. She charges $1000 for a prediction
Let z represent the standard normal variable and suppose a value is randomly selected. Find each of the following probabilities by:
A major study examined the relationship between cause of death (heart attack, cancer, stroke, accident, etc.) and age. A good way to graphically represent the relationship is with
The average income of 11 families who reside in a rural area of the Midwest is $60,213, with a standard deviation of $2009. At α =0.05, can it be concluded that the families who live in the cities have a higher income than those who live in the ru..
This morning the office you are monitoring has eight office visits on the schedule. What is the probability that:
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