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1. At your supermarket, the typical shopper spends $18.93 with a standard deviation of $12.52. You are wondering what would happen in a typical morning hour with 400 typical shoppers, assuming that each one shops independently. How likely it is that you will exceed $8,000 in total sales for all 400 shoppers.
2. You are evaluating two portfolios for your personal investment on the basis of their return. Portfolio A's yearly return is normally distributed with a mean of 0.05 and a standard deviation of 0.07. Portfolio B's yearly return is normally distributed with a mean of 0.04 and a standard deviation of 0.06. Based on this information, what is the probability that over the next year, the return on portfolio A is lower than the return on portfolio B?
In this continuous production process, the amount of toothpaste put in a tube is normally distributed with a mean of 8.17 ounces and a standard deviation of 0.12 ounces. If the actual capacity of the tubes used is 8.49 ounces, what proportion of t..
A fair die is rolled two times. Let A be the event that the outcome of the first roll is an odd number. Let B be the event that the outcome of second roll is at least 5.
You are tracking the sales of three tires. Using the binomial distribution formula, what is the probability that at least one will need a repair?
Multiple choices based on regression analysis - the percentage of variation in the dependent variable explained by the variation in the independent variable
A pharmaceutical company conducted study to evaluate the effectiveness and safety of new inhaled form of insulin for treatment of diabetes. A group of 650 diabetics was given the drug twice a day, while another group of 650 diabetics was given an ..
In a regression model involving 30 observations, the following estimated regression equation was obtained:
Using random numbers of 0.1567, 0.9823, 0.3419, 0.5572 and 0.7758, compute the time required for each of five simulated maintenance checks of the airplane's landing gear.
What are the mean and the standard deviation of the number of firms that purchase a Unix machine from Sun Microsystems?
For the binomial sample information summarized below, indicate whether the sample size is large enough to use the large sample approximation to construct a confidence interval for p.
Mr. James McWhinney, president of Daniel-James Financial Services, believes there is a relationship between the number of client contacts and the dollar amount of sales.
From the test data, can we determine whether the oven has an effect on the cake's density? The null hypothesis should be: Oven has no effect on density.
State the alternative hypothesis that would be used to determine if Brand A has a higher proportion of defective smoke detectors than Brand B. Calculate the test statistic for determining if a difference exists between the failure rates of the two..
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