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Confidence interval for the true proportion.
1. A quality control engineer is interested in the mean length of sheet insulation being cut automatically by machine. The desired length of the insulation is 12 feet. It is known that the standard deviation in the cutting length is 0.15 feet. A sample of 70 cut sheets yields a mean length of 12.14 feet. This sample will be used to obtain a 99 percent confidence interval for the mean length cut by machine.
a. The critical value to use in obtaining the confidence interval is _______________
b. The confidence interval goes from ________ to ________.
c. Suppose the engineer had decided to estimate the mean length to within 0.03 with 99 percent confidence. Then the sample size would be ________.
2. The president of a university is concerned that the percentage of students who have cheated on an exam is higher than the 1 percent acceptable level. A confidential random sample of 1000 students from a population of 7000 revealed that 6 of them said that they had cheated on an exam during the last semester.
a. What is the critical value for the 90 percent one-sided confidence interval for the proportion of students who had cheated on an exam during the last 12 months?
b. What is the upper bound of the 90 percent one-sided confidence interval for proportion of students who had cheated on an exam during the last 12 months?
Explain how much money do these people make each year. Suppose you read in your local newspaper that 45 officials in student services whioch is earned as an average.
Determine the probability that at most 4 fish will be killed?
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Which of the following would produce a new confidence interval with smaller width based on these same data and produce a new confidence interval
Now assume institutional cache is used. Hit rate for cache is 0.6. Determine the total average response time.
Compare two month moving average also exponential smoothing using MAD. The subsiquent data represents demand for company ABC's products for the last 10 months.
Develop a 99 percent confidence interval for the population proportion.
Criterion of realism or Hurwitz. Assume that the payoff from an investment depends on market conditions. Illustrate what is the criterion of realism value.
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