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An internal control policy for an online retailer requires a quality assurance check before a shipment is made. The tolerable exception rate for this internal control is 0.05. During an audit, 500 shipping records were sampled from a population of 6,000 shipping records. And 14 were found that violated the internal controls. Complete part (a) and (b).
a. Calculate the upper bound for a 90% one-sided confidence interval estimate for the rate of noncompliance.
b. Based on (a), what should the auditor conclude?
a group of statistics students decided to conduct a survey at their university to find the average mean amount of time
suppose we generate a random variable x in the following way. first we flip a fair coin. if the coin is heads take x to
Use Chebyshev's theorem to find what percent of the values will fall between 241 and 349 for a data set with a mean of 295 and standard deviation of 18.
Critically illustrate out the range? What is the arithmetic mean income? What is the population variance?
A locksmith is preparing an electronic key code of 3 integers selected from the set {0, 1, 2, 3, 4, 5, 6, 7, 8, 9} without replacement. Calculate the probability that at least one of integer in the code is 5.
Suppose Napoleon were using Bayes' theorm to revise his information. To do so, he would have had to make some judgements about P(Prussian and English Join forces |Napoleon Wins) and P(Prussian and English Join forces |Napoleon loses).
A traffic study at one point on an interstate highway shows that vehicle speeds are normally distributed with a mean of 61.3 mph and a standard deviation of 3.3 mph.
if a researcher wants to conduct a study about how much consumers in a target market segment will spend this year on
q1test whether the mean time to assemble with the new method is less than that for the old method use t as test
for a normal distribution with a zero mean and standard deviation of one use 10 random variables samples to compute the
Find out the probability that the return for common stocks will be more than 0%.
Standard deviation is a measure of variability so lower standard deviation means more consistency. In statistics, the symbol for population standard deviation is the Greek lowercase letter sigma
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