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Suppose that highway gas mileage rates for both of these cares are uniformly distributed over a range of from 20 to 30 mpg. What proportion of these cars would fall into the 22 to 27 mpg range? Compute the proportion of cars that get more than 28 mpg. What proportion of cars would get less than 23 mpg? 3. Suppose that in one dealership an average of 1.37 CLKs is sold every 3 hours (during a 12-hour showroom day) and that sales are Poisson distributed. The following Excel-produced probabilities indicate the occurrence of different intersales times based on this information. Study the output and interpret it for the salespeople. For example, what is the probability that less than an hour will elapse between sales? What is the probability that more than a day (12-hour day) will pass before the next sale after a car has been sold? What can the dealership managers do with such information? How can it help in staffing? How can such information be used as a tracking device for the impact of advertising? Is there a chance that these probabilities would change during the year? If so, why? Portion of 3-Hour Time Frame Cumulative Exponential Probabilities from Left 0.167 0.2045 0.333 0.3663 0.667 0.5990 1 0.7459 2 0.9354 3 0.9836 4 0.9958 5 0.9989
Standard deviation of $5,000. What is the lowest salary for those individuals with an MBA degree whose starting salary is in the top 10 percent?
Do the sales prices of houses in a given community vary systematically with their sizes (as measured in square feet)?
Using the Student's t distribution statistical table, determine 1.645 value. Describe why t distribution approaches z distribution as sample size gets larger.
She has 95% confidence that the mean annual income of the 2 million customers is between $70,000 and $85,000. Explain the meaning of the statement.
Construct a sample space using a tree diagram - Which of the following three sets of probabilities are inappropriate because they violate a basic rule of probability
Collapse the response categories in the following tables so that it meets the assumptions of the chi-square test; than perform the test.
Using the following data on 15 workers, construct an exact 95% confidence interval for µ.
For a continuous random variable x, the probability density function f(x) represents the probability at a given value of x. the area under the curve at x.
State the alternate hypothesis for this study? What critical value should be used to determine the rejection region? Use the 1 proportion Z-test.
What are the five steps in the hypothesis testing procedure, what does each step represent, what are the advantages and disadvantages of using a hypothesis testing procedure?
What is the likelihood all four of the selected flights arrived within 15 minutes of the scheduled time?
What is the critical value for a two-tailed F-Test with a=0.10, when the sample size from which the variance for the numerator was obtained was 10,
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