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In a time-use study, 20 randomly selected managers were found to spend a mean of 2.40 hours each day on paperwork. The standard deviation of the the 20 scores is 1.30. Also, the sample data appear to have a bell-shaped distribution. Construct the 95% confidence interval for the mean time spent on paperwork by all managers.
Let X be the number of yes votes obtained from a random sample of 200 out of the entire voting population. What is the expected value of X if, in fact, 65% of all voters supported the dictator?
Explain why a strong correlation would be found between weekly sales of firewood and weekly sales of cough drops over a 1-year period. Does the strong correlation mean that one variable causes the other?
In the Willow Brook National Bank waiting line system (see Problem 1), assume that the service times for the drive-up teller follow an exponential probability distribution with a service rate of 36 customers per hour or 0.6 customer per minute.
Normalized matrix for one decision criterion at Firm T is given below.
At 95% confidence using the critical value approach, test to see if the percentage of defective systems produced by x-Game has exceeded the industry standard.
According to a report by Scarborough Research, the average monthly household cellular phone bill is $73. Suppose local monthly household cell phone bills are normally distributed with a standard deviation of $11.35.
Calculate the standard deviation for this data = since it is a case of grouped data with classes. use group or class midpoints in the formula in place of x values.
Construct a scatter plot of P-RFM and P-HELM. If drawing the plot by hand, use graph paper to ensure accuracy.
Based on the custom "rule-of-thumb" for estimating the standard deviation, if the range of prices for a product sold in Kansas City is between $99 and $349, an estimate of the standard deviation of the prices would be about:
Small Wonder, an amusement park, experiences seasoned attendance. It has collected two years of quarterly attendance data and made a forecast of annual attendance for the upcoming year.
Management plans to sample 150 packages per week. What is the appropriate control chart?
While purchasing a home, location is everything. As a buyer, one should be aware of the cost of living in the area of choice, as well as expect a higher cost the closer to the center of town you get.
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