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A bank wishes to estimate the mean credit card balance owed by its customers. The population standard deviation is estimated to be $297. If a 98 percent confidence interval is used and an interval of $84 is desired, how many customers should be sampled?
272
613
48
68
To find the probability values in case of raw data, binomial, normal
A school only accepts students with the top 20% of sat scores. The sat has a mean of 500 and a standard deviation of 100. what actual score should be used as the cut-off score?
Suppose a well-known baseball player states that, at this stage of his career, he is a "300 hitter" or better. That is, he claims that he gets a hit in at least 30% of his at-bats. Over the next month of the baseball season, this player has 105 at..
Compute mean x and standard deviation s of data above. Calculate Ho by using traditional/classical method.
Explain the difference between a discrete and a continuous random variable. Give two examples of each type of random variable.
What is the centered moving average that would correspond to Quarter 2 in 2006? If we exponentially smooth the data with the a smoothing constant of 0.1, the smoothed value for Quarter 3 in 2004 would be?
consider two random variables x and y. suppose that the variance of x is 20 that this of y is 10 and that the
the repair time for air conditioning units is believed to have a normal distribution with a mean of 39 minutes and a
Suppose that the distribution of weekly water usage for single-family homes in a particular city is mound shaped and approximately symmetric. The mean is 1400 gallons, and the standard deviation is 300 gallons.
Should the engineering firm be concerned? Perform an appropriate hypothesis test, showing the necessary calculations and or explaining the process used to obtain the results.
The mean SAT verbal score is 412, with a standard deviation of 90. Use the Empirical Rule to determine what percent of the scores lie between 412 and 592. (Assume the data set has a bell-shaped distribution.)
an insurance company would like to estimate the average liability dollars that they pay out due to automobile accidents
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