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1. State the main points of the Central Limit Theorem for a mean.
2. Why is population shape of concern when estimating a mean? What does sample size have to do with all?
If the amount of cosmic radiation to which a person is exposed while flying by jet across the US is a random variable having the normal distribution with µ=5.35 mrem, and σ = 0.59 mrem.
Create a bell curve chart that shows the number of men needed per day for a 10,000 man hour job. The start date is 1/1/2008 and the end date is 6/1/2008.
Assume the population is normally distributed, the confidence level is 95%, n = 12, and σ is unknown.
What are the primary differences between investments in corporate stock versus corporate bonds? Since bonds pay interest, does that imply the individuals risk exposure is less for investing in bonds rather than stock?
Sarah is a 60 year old Anglo female in reasonably good health. She wants to take out a $50,000 term life insurance policy until she is 65.
In the graphical method, how do you know when a problem is infeasible, unbounded, or when it has multiple optimal solutions? What are the essential ingredients of an LP model? Why is it helpful to understand the characteristics of LP models?
In a regression analysis involving 27 observations, the following estimated regression equation was developed.
Calculate correlation coefficient for these sample data.
Compute the 95% confidence interval around the mean of each of the three groups and plot the confidence interval in the space provided above.
Suppose that 50% of all people are opposed, evaluate probability of getting at least 89% opposed in survey of 1012 randomly selected people.
What sample size should be chosen so that there is 0.95 probability of estimating the mean monthly income in $150 or less?
Chi-square test for independent attributes - Are the opinions on the tax cut proposal independent of party affiliation? Use a = 0.01
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