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In a Singapore Edition of Business Times, diamond pricing we explored. The price of a diamond is based on the diamond's weight, color, and clarity. A Simple random sample of 18 one-half-carat diamonds had the following prices, in dollar's: 1676 1442 1995 1718 1826 2071 1947 1983 2146 1995 1876 2032 1988 2071 2234 2108 1941 2316 Based on the above information, solve the following problems: a. Apply the t-interval procedure to these data to find a 90% confidence interval for the mean price of all one-half-carat diamonds. Interpret your result. (Note: X-bar = $1964.7 and s = $206.5.) b. Based on your graphs from part (b), is it reasonable to apply the t-interval procedure as you did in part a? Explain your answer.
Can you determine the number of levels used for each factor? Explain. Describe a treatment for this experiment and determine the number of treatments used.
Computer-generated output indicates that the p-value for the sample is 0.01. Carefully interpret this p-value. At what levels of significance would you reject the null hypothesis?
In a study shop, a set of data was collected to determine whether or not the proportion of defectives produced. Determine if the proportion of defectives is the same for all three shifts.
A sample is selected from a population with a mean of =40 and a standard deviation of 8. If the sample has n=4 scores, what is the expected value of M and the standard error of M?
The number of customers at a specialty meat store averages about 1500/day. The exact number varies from day to day. On Fridays before long weekends, the number of customers increases to about 3000. Which of the following statements is correct
They plan to set up a radar trap and check the speeds of 80 randomly selected cars. Can this distribution be approximated by a normal curve?
Make a point estimate of the population mean difference in endurance after taking the herbs. Make a 95% confidence interval estimate of the population mean difference.
If the mean number of small business failures per month is 10, what is the probability that exactly four small businesses will fail during a given month?
Test whether race and NATFAE are independent (α = 0.05). What do you conclude?
The running time for videos is normally distributed with mean 390 and standard deviation 148. suppose a sample of 40 videos are selected, what is the probability that the mean running time of the sample exceeds 360 seconds?
Find the probability that a randomly person consumes more than 20 pounds of Ice Cream in a year. If 36 people are selected at random and the average consumption is calculated, find the probability that the mean is less than 16 lbs.
Poisson distribution with a mean of 8.8 tickets per day. Find the probability that less than six tickets are written in one hour given that the police works for 12 hours.
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