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The number of shark attacks and deaths over a recent 5- year period is shown. Find the mean, median, mode, midrange, variance, and standard deviation for the date. Which data set is more valuable?
Attack: 71, 64, 61, 65, 57 Death: 1, 4, 4, 7, 4
A microeconomist wants to determine how corporate sales are influenced by capital and wage spending by companies. She proceeds to randomly select 26 large corporations and record information in millions of dollars.
For the following cases, determine whether the sampling is dependent or independent. Explain your conclusion.
Suppose the manufacturers claim is right, determine the probability the mean of sample is 47,840 miles or less?
The following table describes the asset allocation of your portfolio with the corresponding return in percentage, X, and the proportion of that specific asset in the portfolio, P(X).
Suppose that the grams of fat have a normal distribution and form 90%, 95%, and 99% confidence intervals for the mean grams of fat. Based on this data, can we say that the labeling on the package is misleading?
Describe a business-related situation in which you would expect there to be a strong relationship (correlation) between an independent and dependent variable.
An electrical firm manufactures electric light bulbs that have a length of life which is normally distributed with mean and standard deviation equal to 500 and 50 hours, respectively.
At the significance level 0.01 is there sufficient evidence to conclude that a difference exists in the mean time required for the elimination of the rash?
Make a histogram for the r probability distribution.
The number of weeds that remain living after a specific chemical has been applied averages 1.3 per square yard and follows a Poisson distribution. Based on this, what is the probability that a 3 square yard section will contain less than 4 weeds?
What is the appropriate set of hypotheses to test such that a possible outcome of the test would indicate;
A run chart is developed that confirms process stability. The level of significance is chosen to be 0.01. (a) Is there evidence to suggest that the process average differs from the target value?
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