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Greenston coffee is experiencing financial problems because of competition. Total sales revenue has dropped by 15% and the company wished to establish a sales monitoring process to identify shops that are under-performing. Historically the daily mean sales for a shop has been $11,500 with a variance of 4,000,000. Their monitoring plan will take a random sample of 5 days sales per month and use the sample mean sales to identify shops that are under-performing. Establish the lower limit sales such that only 5% of the shops would have a sample sales mean below this value.
By how much does the standard error of x-bar change if the sample is increased to 100?
Tired of careless spelling and grammar, a company decides to administer a test to all job applicants. The test consists of 20 sentences. Applicants must state whether each sentence contains any grammar or spelling errors.
Calculate the correlation coefficient. What is the coefficient of determination from these sample statistics? What does this coefficient indicate?
Then explain your answer to someone who has never had course in statistics (but who is familiar with mean, standard deviation, and Z scores.)
Some people who bought X-game gaming systems complained about having received defective systems. The industry standard for such systems has been 98% non-defective systems.
The data is shown on the table. Is there a difference in mean SBP between treatments? Run the appropriate test at α= 0.05
If profit earned in the manufacture and sale of X units of a product is P dollars where: P = 10X - 0.001X2
A communication network transmits binary digits, 0 to 1, where each digit is transmitted 10 times in succession. During each transmission, there is a 0.995 probability of accurate transmission.
The Dept. of Labor has reported that 30% of the 2.1 million mathematical and computer scientists in the United States are women. If 3 individuals are randomly selected from this occupational group
Create a scenario where the binomial probability formula could be used to determine the probability of some number of successes, x, in some given number of trials,n.
The membership for the club this year isobserved to be 14 freshman, 19 sophomores, 51 Juniors and 16Seniors. At 95% level of confidence, test the advisors belief..
Show that if in the Law of Large Numbers we omit the assumption that all the X have the same mean and replace the m in the conclusion by [E(X1)+...+E(Xn)]/n, the law remains valid.
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