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Why are samples studied when we want to know about populations? Why are random samples used instead of just any sample? How would you determine an appropriate sample size? What is the importance of applying confidence intervals when solving business problems? What is the impact of sample size on this parameter? Please provide references.
There are 8 members on the board of directors. If the board must form a committee of 6 members, how many different ways may the committee be selected from among the 8 board members?
If we know that the length of time it takes a college student to find out a parking spot in library parking lot follows a normal distribution with a mean of 3.5 minutes and a standard deviation of 1 minute
At.05 level of significance, is there evidence to propose that mean life length of the batteries manufactured by this manufacturer is more than 400 hours?
Do the confidence interval limits contain 98.6F? What does the sample suggest about the use of 98.6F as the mean body temp.
Use a 0.05 significance level to test the claim that these credit rating are from a population with a mean that is equal to 700.
Examine the behaviour of 99% critical values for these degrees of freedom, and comment on the limits in this case.
A financial adviser is interested in predicting bond yield based on bond terms, i.e., one year, two years, etc. What is the dependent variable?
A recent article in Business Week listed the "Best Small Companies." We are interested in the current results of the companies' sales and earnings.
Recognize independent variable and dependent variable for this experiment. Think in your head what influences what? Or, what causes what? Cause is independent variable.
Solution utilizing graphical method. Compute the following linear programming problem. Among which of the following points (X, Y) is not a feasible corner point.
Given that the mean of 100 observations is 42.5 and that their standard deviation is 6.313, find the sum of the squares of the observations.
Roger has read a report that the weights of adult mail Siberian tigers have a distribution which is approximately normal with mean μ = 390 lb and σ = 65 lb.
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