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Researcher conducted a study of the access speed of 40 hard drives and concluded that his maximum error of estimate was 24. If he were to conduct a second study to reduce the maximum error of estimate to 6, about how many hard drives should he include in his new sample?
If a technical breakthrough occurred that raised the profit per unit of X 1 to $3, would this affect the optimal solution?
Job Interviews: Based on information from MRINetwork, some job applicants are required to have several interviews before a decision is made. The number of required interviews and the corresponding probabilities are: 1 (0.09); 2 (0-31); (0.37); 4 (..
Determine what analysis would you do on each problem (i.e., one-sample z-test, one-sample t-test, proportion test, two-sample independent t-test, or paired test)?
Suppose n = 1000 persons are to be sampled from this population and the sample proportion of married persons (ρ-hat) is to be calculated. What is the mean of the sampling distribution of ρ-hat?
A final exam in Math 157 is normally distributed and has a mean of 75 with a standard deviation of 12. If 36 students are randomly selected, find the probability that the mean of their test scores is greater than 70.
Which is the probability that the median of the sample is between $17 and $20?
A study group of long distance phone calls made from the corporate offices of Pepsi Bottling Group, Inc., in Somers, New York, revealed the length of the calls, in minutes, follows normal probability distribution.
What will be critical value of chi-square if test is to be performed at 0.025 level? At the 0.05 level?
Using standard methods for linear statistical prediction, find the percent increase in sales revenue that would be expected if the price were lowered by 15%. Find the usual measure of the strength of association between price reduction and sales re..
Use a significance level of alpha = .05 to test the claim that p > .5. The sample is a simple random sample n = 50. Show how to calculate beta for the test and assume the true population proportion is .6.
Find out a plausible value r for correlation between vehicle weight and miles per gallon (mpg) shown in the scattergram below?
As a way of fund raising, you decide to set up a hot dog stand, after a few weeks of doing this you sell 8 hot dogs every 10 minutes.
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