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A simple random sample of 50 adults is obtained, and each person's red blood cell count (in cells per microliter) is measured. The sample mean is 5.23. The population standard deviation for red blood cell counts is 0.54. Use a 0.01 significance level to test the claim that the sample is from a population with a mean less than 5.4, which is a value often used for the upper limit of the range of normal values. What do the results suggest about the sample group?
Discussion should include a critical reflection on the way in which you completed the market challenge element of the module.
If there are 5 choices for a question and there is a 50% chance that the student knows the answer, what is the probability that the student knew the answer to a question he correctly answered?
Compute a 95% confidence interval for the mean using the formula and where is the mean of the ten random numbers.
If historical time series data is very limited, what type of forecasting approach would be useful.
Calculate descriptive statistics for each stock and the S&P 500. Comment on your results. Which stocks are the most volatile? Calculate the value of beta for each stock.
The average price of a car wash is $5.00. A sample of six car washes averaged $5.70 and had a sample standard deviation of $1.30. Assuming a normal population, use the critical value method to test the claim at a= 0.05.
At a used-book sale, 100 books are adult books and 160 are children's books. Of the adult books, 70 are nonfiction while 60 of the children's books are nonfiction. If a book is selected at random, find the probability that is is:
When combining probabilities, to find the probability of one event AND another event, the separate probabilities should be
We wish to estimate the population proportion. We want to be 95 percent confident of our results and we want the estimate to be with .01 of the population parameter. No estimate of the population proportion is available. What value should we use f..
Company A is hoping to expand its operations and a small group of investors is visiting next week. You are tasked with the duty of explaining how Company A uses this information from a linear programming model to optimize its shipping.
You draw two cards from a standard deck of 52 cards, but before you draw the second card, you put the first one back and reshuffle the deck.
The following data represent scores of 50 students in the applied business statistics test. Prepare the frequency distribution table and the frequency histogram for this data set.
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