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The probability density function of the time required to complete an assembly operation is for seconds.
a) Determine the proportion of assemblies that requires more than 35 seconds to complete.
b) What time is exceeded by 90% of the assemblies?
c) Determine the mean and variance of time of assembly.
As a manager, what are some benefits of applying probability concepts to solve business-related problems? Would business decisions suffer without probability concepts? Explain.
Normal population having a standard deviation of 0.04, what is the probability that the mean of a random sample of size 25 will be "off" by at most 0.02?
The diameters of oranges in a certain orchard are normally distributed with a mean of 5.26 inches and a standard deviation of 0.500 inches.
Assess the impact of an event on a population. I ran a survey before the event and then I ran the survey after the event. The collected responses matched between prior to the event and after. I used paired t-test to determine if the event had a posit..
The hypotheses are as follows: Null Hypothesis: μD ≤ 0, Alternative Hypothesis: μD > 0. From her data, the resesarcher calculates a p-value of 0.0162. What is the appropriate conclusion? The difference was calucated as (after - before).
Indicate your hypotheses, decision rule, statistical decision and management conclusion using the critical value and then find the p-value and state your decision rule, statistical decision and management conclusion using this method.
Identify a business situation where you might want to make an estimate. For example, you might want to estimate the mean dollar amount spent by customers at a retail store.
The amount of money requested on a home loan application at federal savings follow the normal distribution, with a mean of $270,000 and a standard deviation of $35,000. A loan applicatiom is received this morning. What is the probability:
a) What type of research uses numeric measurement data? b) What type of research uses a research hypothesis? c) What type of research does not use statistical data analysis?
Sample of 81 houses was studied and found to have the mean of 1858 KWH. Determine the 95% confidence interval for true mean.
please answer the question below focused on the topic of statistics for business.discuss the similarities and
Difference between the discrete and the continuous random variable.
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