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Waiters at Finegold's Restaurant and Lounge earn most of their income from tips. Each waiter is required to "tip-out" a portion of tips to the table bussers and hostesses. The manager has based the "tip-out" rate on the assumption that the mean tip is at least 15% of the customer bill. To make sure that this is the correct assumption, he has decided to conduct a test by randomly sampling 60 bills and recording the actual tips.
Calculate the probability of a Type II error if the true mean is 14%. Assume that the population standard deviation is known to be 2% and that a significance level equal to 0.01 will be used to conduct the hypothesis test.
In your environment (business or personal), please give an application of exponential smoothing and why you would use this technique.
Compute the value of the discriminant and give the number of real solutions to the quadratic equation
a bank manager wishes to see whether there is any preference in the times that customers use the bank. six hours are
Describe a problem (real or fictitious) for which it will be appropriate to utilize a hypothesis test. Describe how data will be collected, sample size, assumptions, level of measurement etc.
1 due to normality the formula for computing z is the same for a single data value as it is for an average of the data
A single test on a certain device costs more than the entire lot. It is therefore decreed that not more than three tests will be performed per lot.
You are estimating the cost ($K) of optical sensors based on the power output of the sensor. Using the preliminary calculations from a data set of 8 sensors, determine the equation of the line. (Round your intermediate calculations to 3 decimal pl..
If a woman purchases Super Cola, what is the probability that it is a diet soda?
on average 9 babies are born per 24-hour day at a hospital in indianapolis.a what is the probability that at least one
You own a $46,000 portfolio comprised of four stocks. The values of stocks A, B, and C are $5,600, $16,700, and $11,400, respectively. What is the portfolio weight of stock D?
Which is the probability of that the median of the sample or average medians be between 320 and 350 minutes?
Using the z table in Table E of Appendix C, determine the critical value for the hightailed test with a = 0.035.
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