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A major video rental chain recently decided to allow customers to rent movies for three nights rather than one. The marketing team that made the decision reasoned that at least 70% of customers would return the movie by the second night anyway. A sample of 500 customers found 68% returned the movies prior to the third night.
A) Given the marketing team's estimate, what would be the probability of a sample result with 68% or fewer returns prior to the third night?
B) Based on the calculations, would u recommend the adoption of the new rental policy? Support the answer with statistical reasoning and calculations.
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What four steps should be used in evaluating expressions? Could these steps be skipped or rearranged? Explain your answersr.
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The mean lifetime of light bulbs made by this manufacturer differs from 55 months? Can we conclude that the mean lifetime of light bulbs made here differs from 55 months?
The following data represents 15 quarters of manufacturing capacity utilization (in percentages) Evaluate three and four quarter moving average for this time series. Which moving average provides the better forecast for the fourth quarter of 2003?
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the sample revealed a sample mean of 11.7 ounces with a standard deviation of .8 ounces test to see if the population mean is at least 12 ounces using the .05 level of significance.
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