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A local bakery uses its stock of sugar according to demand for its products. Indeed, the weekly sugar use follows approximately a normal distribution with mean 2,400 lb. and with standard deviation 400lb. The starting supply of sugar is 4,000lb. and there is a scheduled delivery of 2,500lb at the end of each week. Find the probability that, after 12 weeks (including the delivery that comes at the end of the twelfth week), the supply of sugar will exceed 5,000lb (Ignore the very small probability that the sugar runs out completely during this time period.
If we wanted to shorten the interval of the estimation of the true mean of Saturday sales to a width of $600 in total, what should the size of our sample be to achieve it?
Given the following number of hours between breakdowns for 4 machines, are the machines significantly different? If so, how are they different? Which machine is the best?
State the alternate hypothesis for this study? What critical value should be used to determine the rejection region? Use the 1 proportion Z-test.
A random sample of 25 households finds that an average of 2.3 people reside in each house (the standard deviation is 0.35). With a 95% confidence level, what is your estimation of the population average?
The lifetime of a certain brand of tire has a mean of 43,000 miles and a standard deviation of 6,000 miles. The lifetime distribution closely follows a normal distribution. What proportion of tires will last less than 50,000 miles?
Conduct a test at the .05 level of significance to determine if there is any difference in the mean selling price of new homes in Omaha versus Kansas City.
As a part of a class project, your statistics instructor asks you to weigh a sample of 100 items from a shipment of 500. You are testing the null hypothesis that the mean is greater or equal to 10 lbs.
Suppose the annual return on XYZ stock follows a normal distribution with mean 0.12 and standard deviation 0.30.
In the last municipal election, a sample of 350 registered voters showed that 85 voted for the incumbants. Find out a 98% confidence interval estimate for the proportion of all voters voting for the incumbants.
What are the advantages and disadvantages of each? Explain how the empirical rule help explain the ways in which the values in a set of numerical data cluster and distribute?
What are the five steps for calculating probabilities of events? Please apply these steps to an example.
Gain follows the modern practice of using probability estimates of sales. The military division estimates its sales as follows. Find the standard deviation of the estimated profit, Z = 2000X + 3500Y.
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