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A local bank needs information concerning the checking account balances of its customers. A random sample of 15 accounts was checked. The mean balance was $686.75 with a standard deviation of $256.20. Find a 98% confidence interval for the true mean. Assume that the account balances are normally distributed.
Utilizing the 5% level of significance was there a significant change in cholesterol level. Elucidate your answer to someone who has never ever taken a course in statistics.
Assume x is normally distributed with mean u=15 and standard deviation 0=3. Use the approximate areas beneath the normal curve, as discussed in this section, to answer the following questions.
If it costs 1 cent to make a liver-flavored biscuit and 2 cents to make a chicken-flavored one, what is the optimal product mix for a package of the biscuits in order to minimize the firm's cost?
Brake Pads- A brake pad manufacturer claims its brake pads will last for 38,000 miles. You work for a consumer protection agency and you are testing this manufacturer's brake pads.
Would the method described above be a good way to determine which team was taller (explain why or why not)?
Is it true that one of the major assumptions underlying ANOVA is that all the populations being studied in the experiment have the SAME distribution?
Comparing the results from (a) and (e), what happens to the required sample size when we increase the confidence level?
Heights of People - The average height of a certain age group of people is 53 inches. The standard deviation is 4 inches. If the variable is normally distributed, find the probability that a selected individual's height will be:
The standard deviation is estimated to be 0.279. Use the 99% level of confidence.
Test the claim that the Snickers bars have a mean weight that is different than 20.1 grams. Because shutting down the plant is very expensive, test the claim at the .01 level of significance.
Discuss why the standard error for the distribution of sample means is smaller than the standard deviation of sample scores. Distinguish between within-group designs and between-group designs.
When the effect of a level for one factor depends on which level of the other factor is present, use: Select one:
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