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Confidence Intervals for Means
"Executives Whose Wives Stay at Home Earn More" was the headline for an article that appeared in the San Luis Obispo Telegram-Tribune (Oct. 14, 1994). To support this claim, the article presented data from a random sample of 231 married men who received MBA degrees in the late 1970s. The data are:
n Mean Salary Standard Deviation
Two-income family 140 $95,140 $15,000
Sole source of income 91 $124,510 $18,000
Construct a 95% confidence interval for the difference in these means.
How does the concepts of mean and standard deviations of probability distributions play a role in managerial decision-making?
Using the miles in the bottom of this page use the Descriptive statistics function in Excel to summarize the following statistics for Miles Driven:
use inverse transform method to create the following r.v.s using r1 logistic1022 pareto213 weibull234 gamma355
Suppose n = 4 dog owners are randomly selected. Find the expected number of persons, in the sample, who buy their dog holiday presents.
The sales of Lexus automobiles in the Detroit area follow a Poisson distribution with a mean of 3 per day. What is the probability that for five consecutive days at least one Lexus is sold?
A customer at Cavallaro's Fruit Stand picks a sample of 3 oranges at random from a crate containing 60 oranges, of which 4 are rotten.
Do people walk faster in the airport when they are departing (getting on a plane) or when they are arriving (getting off a plane)? The walking speed of travelers in San Francisco International Airport and Cleveland Hopkins International Airport ar..
Suppose we have a population of scores with a mean = 200 and a standard deviation = 10. Assume that the distribution is normal. Provide answers to the following questions:
Is the correlation r for the data in Figure near -1, clearly negative but not near -1, near 0 clearly positive but not near 1 or near 1. Explain
SAT Math scores, we examined data on the percent of high school graduates in each state who took the SAT and the state's mean SAT Math score in a recent year.
what is the critical f value for a sample of four observations in the numerator and seven in the denominator? use a
Assume that the company had a historical growth rate of 3 percent and has a discount rate of 10 percent.
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