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From a random sample of 48 days in a recent year, U.S. gasoline prices had a mean of $2.34 (wow - that's old data!) and a standard deviation of $0.32. Construct the 90% and 95% confidence intervals for the population mean.
(a) Use the steps of hypothesis testing, (b) figure the effect size for the study; and (c) explain your answers to (a) and (b) to someone who has never had a course in statistics.
What is the probability of this actually happening?
A pharmaceutical company has determined that if a new cholesterol-reducing drug is manufactured (introduced to the market) the following probability distribution will describe this drug's contribution to the company profits during the next six mon..
Adele Weiss manages the campus flower shop. Flowers must be ordered three days in advance from her supplier in Mexico. Advance sales are so small that Weiss has no way to estimate the demand for the red roses.
Based on this survey, what conclusions can you reach about the use of the Internet at work.
What is the probability she received 5 or more email during the same period?
Construct a 99% confidence interval on the difference of the average ages for the viewers of the two TV programs. How can you interpret this interval?
According to the National Football League, the average salary for players for the 2010 season was about $1.9 million while the median salary is around $770,000. Why are both numbers reported? What might the difference between the two statistics me..
Test for single mean - What do you conclude - Compute z and P
A random sample of 81 credit sales in a department store showed an average sale of $68.00. From past data, it is known that the standard deviation of the population is $27.00.
Describe the sampling distribution of the sample proportion
A market research company surveyed consumers to determine their ranked preferences of energy drinks among the brands Monster, Red Bull, and Rockstar.
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