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A small independent bank makes loans as small as for horses and pickup trucks to items as large as tracts of land. Total monthly loan requests are used by bank officials as an indicator of economic business conditions in the community. The mean monthly loan request for the past several years has been 615.1 (in thousands of dollars) with a standard deviation of 11.2 (in thousands of dollars). The distribution of loan requests is approximately mound shaped and symmetrical. The table below gives the loan requests (in thousands of dollars) for the past 12 months. Would you say that the local business economy is heating up or cooling down? Explain your answer. Graph the data.
Month 1 2 3 4 5 6 7 8 9 10 11 12Loan request 619.3 625.1 610.2 614.2 630.4 615.9 617.2 610.1 592.7 596.4 585.1 588.2
Do these results suggest that the racial makeup of the faculty members is different from that of the students? (Use the .05 significance level.) Use the five steps of hypothesis testing and explain your findings.
How do we use a least squares regression line? Please explain in your own words. What is the range for the coefficient of determination? Please explain in your own words.
A quality control engineer is interested in the mean length of sheet insulation being cut automatically by machine. The desired length of the insulation is 12 feet. It is known that the standard deviation in the cutting length is 0.15 feet. A sam..
Determine the completion time and standard deviation (σ) for project roundoff the standard deviation to the nearest hundredth: two decimal places.
The number of children, x, belonging to each of eight families registering for swimming was 2, 2, 2, 4, 2, 1, 2, 2. Find the mean, x. (Give answer correct to 2 decimal places.)
Given route measured in terms of passengers carried (range is 0.1 to 1). Regress lfare on dist, passen and concen, and provide the heteroskedasticity-robust standard errors.
Steven collected data from 20 college students on their emotional responses to classical music. Students listened to two 30-second segments from "The Collection from the Best of Classical Music."
How large a sample should he take to be within 200£ of the actual average with 99% confidence? He assumes the standard deviation of total monthly deposits for all customers is about 1000£.
Make a decision using the Decision Rule approach at given α = 0.05.
Conclude the finite population, correction factor.With the population size of 1,000 and a planned sample size of 200, what is the finite population, correction.
Computer stocks currently provide an expected rate of return of 16%. Dell, a large computer company, will pay a year-end dividend of $2 per share.
In a supermarket 20% shoplifters usually get caught, if a random sample of 8 shoplifters is selected. Find the mean and variance of the distribution. What is the probability that 3 will get caught?
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