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Jolly Blue Giant Health Insurance (JBGHI) is concerned about rising lab test costs and would like to know what proportion of the positive lab tests for prostate cancer are actually proven correct through subsequent biopsy. JBGHI demands a sample large enough to ensure an error of ± 2% with 90% confidence. What is the necessary sample size?
Draw a normal probability plot for residuals using excel or Minitab. Do the residuals seem normally distributed? If yes, why?
The firm examined 35 randomly chosen fax transmissions during the next year, yielding a sample mean of 14.44 with a standard deviation of 4.45 pages.
An internet company has redesigned its website to improve the online experience of its customers. To test whether the new design has improved its customers' experience it has asked people to comment on whether they prefer the new format or not.
In relative frequency histogram for a large set of GPAs, the mean and the standard deviation are 2.10 and 0.21 respectively. What proportion of GPAs falls within 1.68 and 2.52?
Finding Normal probabilities using standard normal table or Excel built in functions
Two teams of workers assemble automobile engines at a manufacturing plant. Quality control personnel inspect a random sample of the teams assemblies and judge each assembly to be acceptable or unacceptable.
Is the event of choosing card green or blue on the first selection independent of choosing card green or red on the second selection? Why or why not?
Compute the 99% confidence interval for the population mean based on the sample 62, 68, 61, 64, 65, 62, and 66. Then, change the number from 66 to 16 and calculate the confidence interval.
How large should n be so that Chebyshev's inequality guarantees that the estimate is within 5 centimeters from h, with probability at least 0.99?
A firm plans to hire 100 employees during the year. It expects that 25 of these employees will obtain graduate degrees within the next 5 years of being hired. In addition, 35 employees will leave the firm within 5 years.
A bag contains 4 red marbles, 3 blue marbles, and 7 green marbles. If a marble is randomly selected from the bag, what is the probability that it is blue?
A sales manager wants to know if the sales productivity of her east region is greater than the sales productivity of her west region
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