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Critically discuss understanding the normal distribution and the factors that affect its shape important in solving business and marketing-related questions? Explain with a simple example.
A game involving a pair of dice pays you 3 with probability 17/36, costs you 2 with probability 14/36, and costs you 4 with probability 5/36. What is your probability of losing money in one play of the game?
Make use of normal probability distribution features of EXCEL to help determine the probability.
A biologist has found the average weight of 12 randomly selected mud turtles to be 8.7 lb with standard deviation 3.6 lb. find a 90% confidence interval for the population mean weight of all such turtles.
At the end of each academic year, 13% of assistant professors become associate professors and 18% leave the department; 21% of associate professors become full professors, and 17% leave the department; and 9% of full professors leave the departmen..
Assume that you are conducting a survey of customer satisfaction regarding their cellular phone.
Perform the chi-square test for a uniform distribution. At α = . 01, does this sample contradict the assumption that readership is uniformly distributed?
Machine which fills quart milk cartons is set up to average 32.2 oz per carton, with standard deviation of 1.2 oz. Determine probability that filled carton will contain less than 32 oz of milk?
At the 5 percent level of significance, can we conclude that the mean weight is greater than 16 ounces? Determine the p-value.
A psychologist wants to determine if there is a linear relationship between the number of hours a person goes without sleep and the number of mistakes he/she makes on a simple test. The following data is recorded. Determine the regression line equ..
Convert each of the following z intervals to raw score x intervals:
What is the best estimate of the average tread life in miles for the entire population of these tires?
A well-established power-drink dispensing machine is programmed to dispense an average of 2.02 liters into a container labled"2 liters". Actual quantities are known to be normally distributed with a standard deviation of 0.015 liters. What is the ..
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