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Suppose that a random sample of fifteen recently sold houses in a certain city has a mean sales price of $290000 , with a standard deviation of $15,000. Under the assumption that house prices are normally distributed, find a 90% confidence interval for the mean sales price of all houses in this community. Then complete the table below.
Carry your intermediate computations to at least three decimal places. Round your answers to the nearest whole number.
What is the lower limit of the confidence interval?
What is the upper limit of the confidence interval?
Suppose that you're the Quality Manager for the Emerson D. Meritz Machine Tool Company. Your model IE566 grinding machine is afflicted by three types of defects classified as major (type A), serious (type B) and minor (type C).
You are considering adding a new food product to your store for resale. Explain how many units of the new product should be purchased for resale.
Forecasting: The sales data for the lone star Sports Apparel Company for the last 12 years are as follows: What is the 2001- 2012 compound growth rate?
Among coffee drinkers, men drink a mean of 3.2 cups per day with a standard deviation of 0.8 cups. assume the number of coffee drinks per day follows a normal distribution.
Conduct a one-tailed hypothesis test given the information below. A certain brand of Green Energy light bulbs was advertised as having an average illumination life-span of 2,500 hours. A random sample of 50 bulbs burned out with a mean life-span o..
The ANOVA summary table below is the result of a regression of sales on year of sales. Is the relationship statistically significant at .05? Comment.
If a garage is robbed, what is the probability the doors were left open?
The number of widgets produced by 9 employees in an eight hour shift is recorded as: 135, 120, 116, 119, 121, 125, 135, 131, 123. What is the median of the number of widgets produced presented above?
A box of 9 gloves contains two left handed gloves and seven right handed gloves. If two gloves are randomly selected from the box, without replacement, what is the probability that both gloves will be right handed?
Compute the mean of the sampling distribution? Compute the standard deviation of sampling distribution?
If these are the only outcomes possible for the business venture, what is the chance that the business venture will be considered Highly Disappointing?
For the data giben below, prepare a R-chart. Note that the sample size is three.
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