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The director of admissions at the University College is concerned about the high cost of textbooks for the students each semester.
A sample of 75 students enrolled in the university indicates that X (bar) = $285.4 and s = $42.20
a. Using the 0.05 level of significance, is there evidence that the population mean is above $300?b. What is your answer in (a) if s= $90 and the 0.10 level of significance is used?c. What is your answer in (a) if X (bar) = $310.10 and s= $40.20?d. Based on the information in part (a), what decision should the director make about the books used for the courses if the goal is to keep the cost below $300?
Suppose that the mean of the annual return for common stocks from 2000 to 2012 was 8.5%, and the standard deviation of the annual return was 25.2%.
Construct a 90% confidence interval for the true mean weight. What sample size would be necessary to estimate the true weight with an error of plus or minus .03 grams with a 90% confidence?
Absolutely lost on how to determine what is being asked in below problem. Need to calculate the covariance and correlation between X and Y
Clark Heter is an industrial engineer at Lyons Products. He would like to determine whether there are more units produced on the afternoon shift than on the day shift.
The standard deviation of test scores on a certain achievement test is 10.5. A random sample of 150 scores on this test had a mean of 72.8.
Find the critical t alpha/2 assuming the population is normally distributed, the confidence level is 95%, n=101 and sigma is unknown.
How many Standard Errors is $850 below $900? If we want to test the null hypothesis that the hotline does not reduce costs, what would be the conclusion based on this data?
What is the critical F value for a sample of 21 observations in the numerator and 15 in the denominator? Use a two-tailed test and the 0.02 significance level. (Round your answer to 2 decimal places.)
You find that a random sample of five microwave ovens has a mean repair cost of $75 and a standard deviation of $12.50. At α = 0.01, do you have enough evidence to support the repairer's claim?
ABC Trucking Company purchased 15 trucks at the same time to start their business. 5 Trucks were purchased from Peterbilt, 5 from Freightliner, and 5 from Kenworth.
Why is "rounding-down" the LP solution the suboptimal way to solve Integer programming problems? Can you describe why?
State the quick rule for a significant correlation and explain its limitations. What sums are needed to calculate a correlation coefficient? What are the two ways of testing a correlation coefficient for significance?
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