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Using Excel, please demonstrate use of functions to solve the following probability problem.
Tired of careless spelling and grammar, a company decides to administer a test to all job applicants. The test consists of 20 sentences. Applicants must state whether each sentence contains any grammar or spelling errors. Half the sentences contain errors. The company requires a score of 14 or more.
If an applicant guesses randomly, what is the probability of passing? (Round your answer to 4 decimal places.)
What minimum score would be required to reduce the probability "passing by guessing" to 5 percent or less?
After the presidential debates, a random sample of 1200 voters showed that 540 favored the Democratic candidate; 480 were in favor of the Republican candidate; 40 were in favor of the Independent candidate, and 140 were undecided. At a 1% level of..
Given the following frequency distribution, find the mean, variance, and standard deviation. Please show all of your work so I can see how to do this for the future. This one is good example of what I can do in future for real estate.
Determine and plot the probability mass function and probability distribution function of the contract award amount (in millions of dollars).
Determine the average amount of time that a guest spends checking in. How would this change under each of the state options?
What measurements assesses the amount of variance of change in the dependent variable reflected by changes in the independent variable?
Think of a case in which regression analysis was used, but not properly. For instance, discuss situations in which regression analysis is not appropriate and does not add useful information to our understanding of a set of data.
How strong is the evidence against the company's claim? Based on these data, the P -value of the appropriate test
The mean score of a college entrance test is 500, the standard deviation is 75 and the scores are normally distributed.
Within each of your current careers/ jobs, there are sets of data that can be analyzed. For example, a teacher can use a set of test scores, a dietician can analyze a set of patient weights and correlate them to incidences of diabetes, and a sales..
We can use two products at my work, which are mutual funds and see if there is a correlation between the two. The two different funds are: a domestic stock mutual fund, which only invests in large organizations (large cap companies) based here in..
If an urn is selected at random and a ball is drawn, find the probability it will be red.
A big part of regression analysis involves hypothesis testing. For example the t-score for b1 tests a hypothesis...what is the H0 and Ha for this hypothesis?
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