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A statewide real estate company specializes in selling farm property in the state of Nebraska. Their records indicate that the mean selling time of farm property is 90 days. Because of recent drought conditions, they believe that the mean selling time is now greater than 90 days. A statewide survey of 100 farms sold recently revealed that the mean selling time was 94 days, with a standard deviation of 22 days. At the .10 significance level you will test to determine if there has been an increase in selling time. Is this a 1 or 2 tail test?
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..
If the mean IQ of all Omega University students was equal to 115, and a small random sample of students was selected from the population whose mean IQ was 120, then this difference of 5 points would equal the:
Determine the following areas under standard Normal distribution curve.
Verify value of t for the independent Variable, using formula. (That is, using formula in the Formula Sheet compute the t statistic , given data provided in the print out).
The dimension is supposed to be 224 mm and the variability of the manufacturing process is unknown. Is there evidence that the mean dimension is not 224 mm?
Data on distribution of cost for building effort, design work and testing effort.
Hypothesis test for the difference between two means - To make the data comparable, certain features, such as the deductible amount and limits of liability, are standardized.
Determine the sample size necessary to estimate a population proportion to within .03 with 90% confidence assuming you have no knowledge of the approximate value of the sample proportion.
To guarantee that cans of soda are properly filled, some cans are sampled and the amounts measured. The overall average for the samples is 12 ounces.
The local operations manager for the IRS must decide whether to hire 1, 2, or 3 temporary workers. He estimates that net revenues will vary with how well taxpayers comply with the new tax code.
What can be done to remedy multicollinearity? Use ANOVA instead of Regression.
Let X1, ..., Xn be a random sample from a two-parameter exponential distribution, Xi ~ EXP (theta, eta). (a) Assuming it is known that eta = 150, find a pivotal quantity for the parameter theta based on the sufficient statistic.
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