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A study was conducted to investigate the relationship between the cost, y (in tens of thousands of dollars), per unit of equipment manufactured and the number of units produced per run, x. The resulting equation for the line of best fit is given below, with x being observed for values between 10 and 200. If a production run was scheduled to produce 80 units, what would you predict the cost per unit to be in dollars?
= 7.56 - 0.01x $
The American Automobile Association checks the prices of gasoline before many holiday weekends. Listed below are the self-service prices for a sample of 15 retail outlets during the May 2003 Memorial Day weekend in the Detroit
John conducted his study to measure self-esteem among victims of domestic violence before and after they complete an 8-week program for abuse victims with 10 individuals. He calculated t = 1.9 from his data.
Use Chebyshev's theorem to determine what percent of values will fall between 58 and 82 for data set with mean of 70 and standard deviation of 4.
Is the normal distribution (or its special case, the standard normal distribution) effective in characterizing situations and/or in helping managers make decisions?
The standard deviation of the population of adult female height scores is 3 inches. A random sample of 50 women yields a mean height of 64 inches. Calculate the standard error of the mean.
You're interested in determining the volume of sales dollars necessary for the coming year to reach the break-even point. You've decided to break down the sales for the club into four categories, they are as follows:
Can we conclude at the 5% significance level that the population mean weight of athletic men is lower than the population mean weight of non-athletic men?
Discuss how to perform a test of hypothesis to determine whether the variances of two populations are equal. Include a discusssion of why the larger sample variance is placed in the numerator in the Test Statistic for comparing two variances.
Diastolic blood pressure (DBP) values were measured for 150 patients using two medical devices. The mean DBP values using the two devices are 120 and 122 respectively. Also the standard deviation of the difference of the measurements is 0.634. Te..
What is the probability the number of fatal crashes will be between 1000 and 2000 for a year?
How many samples would be needed to create a 99 percent confidence interval that is within 0.02 of true proportion of premium grade fuel-quality failures.
Assume gasoline prices for a region are normally distributed. Do the data you obtained provide enough evidence to reject the claim? Use a 1% level of signi?cance.
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