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The amount of income spent on housing is an important component of the cost of living. The total costs of housing for homeowners might include mortgage payments, property taxes, and utility costs (water, heat, electricity). An economist selected a sample of 20 homeowners in New England and then calculated these total housing costs as a percent of monthly income, five years ago and now. The information is reported below. Is it reasonable to conclude the percent is less now than five years ago?
Homeowner Five Years Ago Now
1 17% 10%
2 20% 39%
3 29% 37%
4 43% 27%
5 36% 12%
6 43% 41%
7 45% 24%
8 19% 26%
9 49% 28%
10 49% 26%
11 35% 32%
12 16% 32%
13 23% 21%
14 33% 12%
15 44% 40%
16 44% 42%
17 28% 22%
18 29% 19%
19 39% 35%
20 22% 12%
You are given the choice of three doors. Behind one is a new car and the others hide a barnyard animal for you to keep. After you choose door number one, your host (Monty) opens door three to reveal a goat.
In an experiment on a new drug to determine the most effective dosage and method of administration, subjects were randomly assigned to either 5, 10, 15, or 20 mg of the active drug.
Schadek Silkscreen Printing, Inc. purchases plastic cups on which to print logos for sporting events, proms, birthdays, and other special occasions. What is the estimated proportion defective in the population?
Standard deviation was increased to 40, determine the overall effect on their society? Would this change be a good thing?
What is the probability that the mean annual precipitation during 49 randomly picked years will be less than 101.8 inches?
The lengths of pins produced by a machine follow a normal distribution with mean 2.54 cm and standard derivation 0.04 cm.
Find the probability of a Type II error if in fact the mean waiting time is actually 9.8 minutes.
A researcher is evaluating the influence of a treatment using a sample selected from a normally distributed population with a mean of µ = 80 and a standard deviation of σ = 20. The researcher expects a 12 point treatment effect and plans to use a ..
Develop and solve a linear optimization model to determine the optimal mix to maximize profit, and write a short memo to the president, Kathy Chung, explaining the sensitivity information in language that she can understand.
Plot the data on U.S. general aviation shipments (b) Describe the patterns and discuss possible causes.(c) Would a fitted trend be helpful? Explain. (d) Make a similar graph for 1992-2003 only.
The membership for the club this year isobserved to be 14 freshman, 19 sophomores, 51 Juniors and 16Seniors. At 95% level of confidence, test the advisors belief..
Using quadratic regression model find the estimated number of planes.
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