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Shaver Manufacturing, Inc., offers dental insurance to its employees. A recent study by the human resource director shows the annual cost per employee per year followed the normal probability distribution, with a mean of $1,280 and a standard deviation of $420 per year.
What fraction of the employees cost more than $1,500 per year for dental expenses?
What fraction of the employees cost between $1,500 and $2,000 per year?
Estimate the percent that did not have any dental expense.
What was the cost for the 10 percent of employees who incurred the highest dental expense?
Determine the probability that gas tank's capacity is above 15.25 gallons?
Suppose that the average annual salary for the worker in United States is $39,000.00 and that the annual salaries for Americans are normally distributed with a standard deviation equal to $7,000.00.
If Stephenson wishes to maximize its total market value, would you recommend that it issue debt or equity to finance the land purchase? Explain.
The probability of a bulb lasting less than 2300 is .1573. The maximum probability of a bulb lasting less than 2300 hours should be only 5%. What must change specifically? How would that change be obtained practically?
Note that Σ x = 2233 and Σ x 2 = 138,053. At the 5% level of significance, can the instructor conclude that the new mean is different from 64?
Another day, it took Eric only 12 minutes to get to work. Using the same formula, determine the z value. Is it positive or negative? Explain why it should be positive or negative.
What is the probability of receiving more than three pieces of junk mail today?
Determine the regression equation, letting the first variable be the independent (x) variable. Find the indicated predicted values.
You will investigate four different scenarios of population growth also decline in this town. Graph the model as well as investigate it by four different growth models.
A survey of 600 non-fatal accidents showed that 111 involved the use of a cell phone. Find a point estimate for p, the population proportion of accidents that involved the use of a cell phone.
If not what would be a better testing strategy? Could you form a Null Hypothesis or an Alternative Hypothesis? If yes, what would they be.
The sample mean is 2.59 and the sample standard deviation is .66. Conduct the following test using 95% level of confidence.
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