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The annual starting salaries for college graduates with business administration degrees are believed to have a standard deviation of approximately $2000. Assume that 95% confidence interval estimate of the annual starting salary is desired. How large a sample should be taken if the desired margin of error E is:
a. E = $500? n = ________________________
b. E = $200? n = ________________________
c. E = $100? n = ________________________
Determine the special property of standard normal distribution, compared to other normal distributions?
What government officials increase the price of parking ticket from $40 to $50; they are surprised that their revenue actually falls. What happened?
Evaluate the EOQ, average inventory, orders per year, average daily demand, reorder point, annual ordering costs, and annual carrying costs
Suppose that the domestic demand and supply for hats in a small open economy are given by-Where Q denotes quantity and P denotes price.
Not-for Profit Analysis optimal patient level under different plans - Calculate these levels under plan A
Suppose that past data are not available for developing a planning value for p; therefore, you will use p = 0.050 for the planning average.
Calculation of future value, on a per dollar basis, of each of the two interest payment options and compute the future value of the $47 million bid using each option, and determine which is bigger.
The simple coefficient of determination is the proportion of total variation explained by the regression line.
What is the profit maximizing output level for the typical firm? (Hint: Calculate MC for each change in output, then find the equilibrium price, and calculate MR for each change in output)
The mean time to download an Google video is 1 minute 30 seconds. Suppose the download time is normally distributed with standard deviation of 20 seconds.
Decide if the events A and B are mutually exclusive or not mutually exclusive. A card is drawn from standard deck of 52 playing cards.
The probability of the patient being chosen at random as having meningitis as only site of infection is?
Compute lower and upper quartiles of log10-balances? Determine 95% range of the balances in $s? Express in English what the two boundaries mean.
Is there evidence of a difference in objection to sharing information among the organizational groupings? (use α = 0.05)
At the 5% significance level, if the sample proportion is .45, and the standard error of the sample proportion is .035, the appropriate conclusion would be:
If they must form an ethics subcommittee of 4 members, how many different subcommittees are possible?
Which of the following is the appropriate conclusion from carrying out these multiple comparisons
What percent of trucks logged more than 57,060 but less than 58,280 miles? What percent of Fords travelled 62,000 miles or less in the year?
Suppose the sample variance for 30 parts turns out to be s 2 = .0005. Use α = .05 to test whether the population variance specification is being violated.
(A) What sums are needed to calculate a correlation coefficient? (B) What are the two ways of testing a correlation coefficient for significance?
For the mold described in (g), can you find the probability that it's COST value will exceed $150,000? If yes, obtain this probability. If no, why not?
To find out whether the course is effective in increasing sales, the appropriate set of hypothesis for testing is:
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