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The average cost of homes in a large neighborhood is $250,000 with a population standard deviation of $30,000. A random sample of 9 homes was selected in the neighborhood. What's an estimate of the average price of the houses in the sample?
Why is statistical significance not necessarily of practical important difference to a business decision? Provide an example and explain.
Were the frequency distributions used effectively to report the results? Why or why not? Find an example of a presentation of statistics using a frequency distribution(s) from any media source.
A manufacturer produces and sells chilled, ready-to-eat pasta salad in round lots of 50 serving units each. These items have a very limited shelf life; therefore, if items are made but not sold, they have no value.
fourth group was divided into small discussion groups. A high of 10 was possible. A sample of five tests was selected from each group. The test grade results were: At the 0.01 level, what is the critical value?
Compute the standard error of the mean O(funny o with line) line over x, for sample sizes of 50, 100, 15o, and 200. What can you say about the size of the standard error of the mean as the sample size is increased?
The world's smallest mammal is the bumblebee bat. Shown to the right are weights(in grams) from a sample of those bats. Use the traditional method and significance level of .05 to test the claim that these bats come from the same population having..
The average stock price for companies making up the S&P 500 is $30, and the standard deviation is $8.20. Assume the stock prices are normally distributed.
Drug manufacturer knows that for a certain antibiotics, the average number of doses ordered for a patient is 20. Steve Simmons, a salesman for the company
The dimension is supposed to be 224 mm and the variability of the manufacturing process is unknown. Is there evidence that the mean dimension is not 224 mm?
The probability of contracting the kissing disease is .23 when one is exposed to a certain provocative environment. Sixty people are so exposed. What is the probability that no more than 10 are infected with this dreaded disease.
The total blood cholesterol concentrations, in mg/dL, are shown below for a random sample of six people. In the table below, x is the age of the subject and y is the subject's total cholesterol concentration. Find the 95% prediction interval when ..
we wish to estimate the mean using a sample size of n = 49. Find the probability that we could be correct within 1kg/m 2 .
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