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The manager of a local bank wants to estimate the average amount held in checking accounts by the customers. A random sample of 30 customers is selected, and the results indicate a sample average of $4,750 and a sample standard deviation of $1,200.
a) Set a 95% confidence interval estimate of the average amount held in all checking accounts.
b) Test the hypothesis that the true average of the population is $4,000, against the hypothesis that it's different.
What are examples of the populations parameters we are trying to estimate for sample data?
Find the relative risk for moderate beer drinkers as compared to nondrinkers, finds the 95% confidence interval
A monthly budget of $100,000 is available for both advertising and purchase of the fragrances. Develop and solve a linear optimization model to determine how much of each type of perfume should be produced to maximize the net profit.
The Graduate Management Admission Council, who administers the test, claims that the mean total score is 529. Suppose a random sample of 8 students took the test, and their scores are given below. 699, 560, 414, 570, 521, 663, 727, 413 Use α = .05..
At the .01 significance level, is there a relationship between job pressure and age?
A raffle offers a first prize of $1000 2 second prizes of $300 and 20 third prizes of $10 each. If 15000 tickets are sold at 75 cents each, find the expected winnings (IN CENTS) for a person buying one ticket?
In a surgey of 280 adults over 50.80%; said they were taking vitamin supplements. Find the margin of error for this survey if we want a 99% confidence in our estimate of the percent of adults over 50 who take vitamin supplements.
The average score on the stat midterm was 75 points with a standard deviation of 5 points, and Gregor's z-score was -2. How many points did he score.
The final examination of a course requires an essay. The number of pages from a sample of 25 students were collected. The data are:
What is the probability that the first two cards dealt yields "Black Jack"?
If random sample of 9 loads is selected for weight check, determine probability that mean weight of those loads is more than 40.60 tons.
A class has 13 women and 18 men. If student if selected randomly, determine the probability student is a woman?
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