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There are 100 males and 120 females in the graduating class of a local high school. Thirty-five percent of the graduating males are on school sports teams, as are 30% of the graduating females. A local businessperson is going to donate $1000 to the favorite charity of a randomly selected graduate. What is the probability that the graduate selected will be a male who is not a member of a sports team? What is the probability that the graduate will be either a female or a member of a sports team?
What value is business research and hypothesis testing to a company? How long should it take a company to complete a scientific research study?
Assume you want to repeat the FDA experiment to achieve an estimation of the mean μ of the amount of caffeine content of a cup of coffee.
How many of these new cardholders would you expect to default? What is the standard deviation?
The 90% confidence interval to estimate the true average difference in nationwide sales quantity before the ad campaign and after is (0.39, 16.64). Which of the following is the appropriate conclusion? The differences were calculated as (after ad ..
A clinical investigator is interested in understanding the relationship between demographic factors and congestive heart failure, measured by a cardiac index (CI).
Think about a density curve that consists of two line segments. The first goes from the point (0, 1) to the point (0.7, 1). The second goes from (0.7, 1) to (0.9, 2) in the xy-plane. What percent of observations fall below 0.70?
Assume you choose 20 houses at random. On average, how many houses of twenty would you expect to have DVD? Determine standard deviation of number of houses with DVD?
What is the probability that a simple random sample of auto insurance policies will have a sample mean within $25 of the population mean for each of the following sample sizes: 30, 50, 100, and 400.
Explain the purpose of the chi-square test for independence. Provide some practical examples where this test might be used in business.
The following table gives the number of U.S. families, in thousands, with pet dogs, pet cats, and pet birds, by size of family.
How does your sample compare to this theoretical distribution of sample means and what are the mean, variance, and standard deviation of the observations in your sample?
What is a hypothesis? Specifically, is it a statement about the population or the sample? What is the purpose of hypothesis testing?
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