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You find that a small business loan in the amount of 50,000 is the amount you need to purchase the restaurant location. After researching banks to find the best interest rate, you find that banks for small businesses offer the best interest rate of 9% interest that compounds monthly for 7 years.
Provide a 95% confidence interval for the difference between the two population means. Compare the means of population 1 and population 2. Are they equal? Show your test procedure.
The population standard deviation is σ2 = 7. Test that the population means differ using a 1% significance level.
Formulate an appropriate hypothesis test to examine at the 10% level of significance whether the manager's worries are justified.
The Big Triple at the local racetrack consists of picking the correct order of finish of the first three horses in the ninth race. If there are 12 horses entered in today's ninth race, how many Big Triple outcomes are possible?
Find the probability of getting a queen and a spade.
What is the probability that all 3 would iPods from best buy? Or at least one would have iPod from best buy?
A certain disease occurs in 35% of the population. A test for the disease is fairly accurate: it misclassifies people with the disease as healthy 6% of the time and reports that a healthy person is diseased just 7% of the time.
Assume that the measurements came from a normal distribution. The variability of the manufacturing process is unknown means the same as the standard deviation is unknown.
Test at the 5% level whether the incidence of smoking depends on the age category
a production process produces 90 non-defective parts. a sample of 10 parts from the production process is selected.a.
What is the z a/2 for a confidence level of 95%, the margin error of this sample and give a 95% confidence interval for the mean weight of boxes produced based on the sample mean of 16.4?
At the 0.05 level of significance, do the samples provide sufficient evidence to indicate that on the average, fewer consumers prefer a new product when the spokesperson is male?
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