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Drug manufacturer knows that for a certain antibiotics, the average number of doses ordered for a patient is 20. Steve Simmons, a salesman for the company, after looking at 1 day's prescription orders for the drug in his territory, announced that the sample mean for this drug should be lower. He said, "For any sample, the mean should be lower, since the sampling mean always understates the population mean because of sampling variation." Is there any truth to what Simmons said? Explain.
Use differential calculus to find both sales volume at which revenue is maximised and the maximum revenue available from sales of product X.
Comparison of paired and unpaired samples test - Prepare a brief conclusion statement summarizing your results. What can you tell this MHMR about client satisfaction? What could you suggest they do to improve?
The Starbucks in the Bauer College of Business found that 24% of customers purchase more than one cup of coffee per day from their shop. If 180 customers are randomly selected one day, what is the probability that no less than 25% of them purchase..
Following is based on information from Statistical abstract of the United States, Dec, 1992. Are A and B mutually exclusive?
Note down a research that requires a decision making with probabilities.
Find a 99% confidence interval estimate of the proportion of people who say that they voted.
The value of R-square indicates the amounts of variation in the dependent variable that is explained by the independent variable.
What is the probability that a randomly selected cell phone bill is more than $67.75?
Descriptive statistics for given data - Evaluate the range, variance, and standard deviation of the data set. Interpret the results in the context of the real-life setting.
According to the Scranton Edison Company, utility-plant investment per employee was approximately $453,300; $492,400; $498,900; $531,900; $553,900;
Find the probability of getting a head and rolling a six
Suppose these data represent whole population. Determine the population mean and population standard deviation.
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