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Private consumption as a share of GDP is a random quantity that follows a roughly normal distribution. According to an article in BusinessWeek, for the United States that was about 71%.6 Assuming that this value is the mean of a normal distribution, and that the standard deviation of the distribution is 3%, what is the value of private consumption as share of GDP such that you are 90% sure that the actual value falls below it?
The probability that you win is 6/36=1/6, and P(loss) = 5/6. Find a rough range for a) 200 plays, (b) 20, 000 plays. You must show your work when you compute the SD of the box.
What are the minimum and maximum heights it should use as a basis for its design?
You collect a sample of 100 observations on monthly spending on fast food. The sample mean is $96 and the sample variance is 400. Test the null hypothesis that the population mean is $100. Show your work.
As discussed in the text, it often is possible to use a theoretical distribution as an approx imation of the distribution of some sample data. It is always important, however, to check to make sure that your data really do fit the distribution you..
Analysis of weekly widget production reveals that the number of widgets X produced in a week is a random variable with mean μX = 200 and standard deviation σX = 20. What are the mean and the standard deviation of C?
a used car dealership has found that for cars it sells that the length of time before a major repair is required is
One question that I have is: Will these sample statistics accurately estimate the purchasing habits of all our customers? Can you share some of your thoughts on that question? Why or why not?
thirty-three percent of all liquid crystal displays lcds are manufactured by samsung. what is the probability that in a
the mock data file consists of 3 columns each containing 1000 numbers1. a flag indicating which data row2. the sampled
the fda tests the tobaccos in two different types of cigars for nicotine content in mg and obtained following results.
Given that this sample is extremely large, can the responses be considered to be representative of the population of the United States? Explain.
Professor Smith's statistics midterm had a mean of 85 and a standard deviation of 8. If a student got a score of 73, what was the student's standardized (z) score? What is the probability of a normal random variable taking a value more than 1.6 sta..
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