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A manufacturer claims that the average lifetime of its lightbulbs is equal to 36 months. A random sample of 64 bulbs has a mean lifetime of 32 months, and the sample standard deviation is 11 months. We will be using a z-test for the population mean at α = 0.05 to check the manufacturer's claim.
Flaws in a certain type of drapery material appear on the average of one in 150 square feet. If we assume the Poisson distribution, give the probability of at most one flaw in 225 square feet.
30% of the college of business students major in finance. A random sample of 20 students is selected. What is the probability that no more than 3 students of the selected students are majoring in finance?
Taking α to be 0.05, what is/are the critical values associated with testing your hypothesis?
Assume Nick doesn't know how his received he suppose that all three states of nature are equally likely to occur. If Nick uses the equally likely criterion illustrate what decision would he make.
Assume that random variables X1,.....,X50 are independent and all have probability density function fX(x) = 1/x for 1
They estimated the proportion of students at the university who prefer outdoor exercise as (0.5745, 0.8217), with 95% confidence. Which of the following is an appropriate interpretation of this confidence interval?
Discuss examples where you would use test of hypothesis at your personal or professional life, in your education or society for the following situations:
Assume there're three states of the economy: boom, moderate growth, and recession. The annual return on company A stock and company B stock in each state of the economy is given below
As the correlation coefficient increases from 0.85 to 0.88, do the points of the scatter plot move toward the regression line, or away from it?
The average cost of a one bedroom apartment in a town is $550 per month. What is the probability of randomly selecting a sample of 50 one bedroom apartments in this town and getting a sample mean of less then $530 if the population standard deviat..
Test the whether the attitude toward keeping weight down associated with smoking status.
Determine the value of the finite population correction factor if population size is 1000 and the sample size is 300? What is the smallest sample size for which finite population correction factor must be Used?
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