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An Auditor of a small bsuiness has sampled 50 of 700 accounts. The sample mean total receivables is $435, and the sample standard deviation is $86. Find a 95% confidence interval for the total amount of receivables.
Which of the following terms describes the overall long-term tendency of a time series?
If "fair" coin is tossed four times and comes up heads all four times, probability of heads on the fifth trial is?
Should the finite-population correction factor be used? Why or why not?
The following data represent scores of 50 students in the applied business statistics test. Prepare the frequency distribution table and the frequency histogram for this data set.
What are some differences between discrete and continuous data? Is the measurement of money continuous or discrete? Explain. Can discrete data be analyzed using a normal distribution? Why or why not?
Write down the advantages and disadvantages of using computer software for decision making.
Verify value of t for the independent Variable, using formula. (That is, using formula in the Formula Sheet compute the t statistic , given data provided in the print out).
Computing relative frequencies in a contingency table and a survey of a sample of 347 people is conducted. The survey's respondents are classified according to their political affiliation and their opinion on a bill.
Show that it satisfies the required condition for being a probability distribution.
Recent studies indicate that the typical 50-year-old woman spends $350 per year for personal-care products. The distribution of the amounts spent is positively skewed.
Suppose a statistician chose to test a hypothesis at sigma = 0.01. The critical value for a right-tailed test is +2.33. If the test value were 1.97, what would the decision be?
Find the probability that not enough seats will be available. Is this probability low enough so that overbooking is not a real concern?
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