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Two comparable cars of BMW and Mercedes are BW 330 cci and the Mercedes CLK 320. As of 2006, the average manufacturer's suggested retail price for a 330 cci was $37600 as compared to the $45750 for a CLK 320. The dealer prices however are not consistent. The dealer prices for CLK 320 follow a normal distribution with a mean of $45750 and a standard deviation of $2981. The dealer prices for 330 cci are normally distributed with a mean of $37600 and a standard deviation $2367. What percentage of BMW dealers are pricing the 300 cci at more than the average price for a CLK 320? What percentage of Mercedes dealers are pricing a CLK 320 less than the average price of a 330 cci?
The gas mileage rates for various CLK cars are uniformly distributed over a range from 24 miles per gallon (mpg) to 34 mpg. What proportion fall between 26 to 30 mpg range? Gas mileage rates for 330 cci are uniformly distributed between 25 mpg to 35 mpg? What proportion of 330 cci cars fall between 26 to 30 miles per gallon range? Compute the percentage of each of the car models that get 30 or more mpg.
The closing price of a company's stock tomorrow can be lower, higher or the same as today's closed. Without any prior information that may affect the price of the stock tomorrow, the probability that it will close higher than today's close is 1/3
You draw two cards from a standard deck of 52 cards, but before you draw the second card, you put the first one back and reshuffle the deck.
State the hypotheses for a right-tailed test. Obtain a test statistic and p-value assuming unequal variances. Why might the sample data not follow a normal, bell-shaped curve? If not, how might this affect your conclusions?
Assume a factory manager wishes to buy machines to perform a certain task in a production process. Certain key parts are produced by these machines.
Bruce Kuhlman, owner of Kuhlman Farms, wishes to use brand of fertilizer which will produce maximum yield per acre of wheat. Mr. Kuhlman can select from four different commercial brands. Write down the hypotheses?
Two t-curves have degrees of freedom 12 and 20, respectively. Which one more closely resembles the standard normal curve? Explain your answer.
(a) What is the relative frequency (i.e., proportion) of observations falling in the 0.260-0.280 interval? (Give your answer to four decimal places.) (b) What is the shape of the data distribution?
Rolling a die Simulate 36 rolls of a fair die. Give the relative frequency and the corresponding theoretical probability of each of the outcomes and compare them.
If two independent large samples are taken from two populations, the sampling distribution of the difference between the two sample means:
Using two-tailed test with α = .05, is there significant difference between two treatment conditions? Calculate r2 to measure percentage of variance accounted for by treatment effect.
A random sample of 10 miniature Tootsie Rolls was taken from a bag. Each piece was weighed on a very accurate scale. The results in grams were:
You may assume the sample data comes from a population that follows a normal distribution. Using a .05 level of significance test the company's claim.
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