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The price of bananas each week in a grocery store is normally distributed with a mean (µ) of 37.8 cents per pound and a standard deviation (σ) is 3 cents.
A. What is the probability that bananas will sell for between 30 and 35 cents per pound in any given week?
B. Mark makes it a policy not to buy bananas unless the price is 33 cents or less per pound. What proportion of the time would he buy bananas?
Develop a mathematical programming model and solve. Discuss your results [total profits, total costs, etc].
Assume the population standard deviation is 1.2 hours. The standard error of the mean is:
If employee is chosen at random, determine the probability that employee is female and salaried staff? Choose the best answer from the following.
At the .01 significance level can we conclude the mean age is more than 8.4 years for the cars of university students? Compute the value of the test statistic.
Use the traditional method to test the given hypothesis. Assume that the population is the normally distributed and that the sample has been randomly selected.
The firm examined 35 randomly chosen fax transmissions during the next year, yielding a sample mean of 14.44 with a standard deviation of 4.45 pages.
Is there meaningful relationship between grades and SAT scores? If student scores 450 on the SAT, what do youbelieve his or her GPA will be?
Compute the median number of dependents?
If a 99% confidence interval is calculated to estimate the difference between the average hourly rates for each type of graduate, what is the margin of error? Assume both population standard deviations are equal.
The following show the hours of sleep on weeknights for a sample of individuals age 49 and younger and for a sample of individuals age 50 and older.
Calculate a 3-month moving average forecast for months 4 through 9 also Compare the two forecasts by utilizing MAD. Which forecast appears to be more accurate.
Speed of cars travelling on I-85 in Gaston County is normally distributed with average speed (µ) of 66 MPH and standard deviation (σ) of 8 MPH.
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