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How might variance and standard deviation be applied to a real-world business-related problem? Provide a specific application in which these measures are useful.
Based on our poll what is the margin of error of the proportion of voters favoring the incumbent?
Given the binomial distribution with n = 23 and p = 0.79, would the normal distribution provide the reasonable approximation? Why or why not?
If an applicant is randomly selected, find the probability of a rating that is between 200 and 275.
Make a point estimate and a 95% confidence interval estimate.
When coaching or training athletes, the tests employed to predict performance or determine training methods incorporate statistical methods. Why are these methods so effective?
SAT Math scores have a bell-shaped distribution with a mean of 515 and a standard deviation of 116. a) what percentage of SAT scores are between 399 and 631?
Test the hypothesis. Will you reject or not reject the null hypothesis at α = 0.05
Compare these with the percentages specified by Tchebysheff's Theorem.
Estimate the population mean
The average could be a poor estimate of the spending of all teenagers given that only teenagers in malls were sampled.
Test to see if the mean cell phone bill has changed since 2004. Use a .05 level of significance for the test.
Determine the probability that the project will be completed in 90 days or less.
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