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DBS Bank in Central has opened a new technical support call center to help customers in using their e-banking app. In order to estimate the population mean service time, 1, the manager has selected a random sample of 64 calls and found the average service time is 100 minutes with s = 4.5 minutes.
(a) What is the 95% confidence interval for the population mean service time?
(b) Interpret the interval in (a), either in language to non-expert or using statistical interpretation.
56% are enrolled in school. If a sample of 500 such children is randomly selected, find the probability that at least 250 will be enrolled in school.
Find a 95% confidence interval for the mean amount of time on this ride.- Find a 99% confidence interval for the mean amount of time on this ride.
Draw a histogram showing the 20 sample means. (Use classes -0.5 to 0.5, 0.5 to 1.5, 1.5 to 2.5 and so on). Describe the distribution of the x-bars that you see in part b (shape of distribution, center, and the amount of dispersion).
Construct the randomization reference distribution and the approximate scaled t distribution. What is the significance level in each case?
it is generally believed that electrical problems affect about 14 of new cars. an automobile mechanic conducts
A City Survey states that 70 percent of all business owners favor increasing the parking fees. The city has commissioned a random sample of n = 100 business owners.
What is the appropriate set of hypotheses to test such that a possible outcome of the test would indicate;
For the observations 21, 36, 42, 24, 25, 36, 35, 49, 32 verify that the sample variance and the sample Winsorized variance are s2 = 81 and Sw2 = 51.4, respectively.
Categorize the following as discrete or continuous random variables.
If yields decrease, as a pension fund manager, what impact will you see on capital appreciation and reinvestment value?
In a random sample of 35 trading days, the volume of a particular stock is recorded to determine whether the mean volume of the stock changed from its 2007 value of 35.14 million shares.
Researchers must obtain Informed Consent from all human participants in a research study. Informed Consent requires that participants are informed of the following (check all that apply):
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