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An advertising agency that serves a major radio station wants estimate the mean amount of time that the station's audience spends listening to the radio daily. From studies, the standard deviation is estimated as 45 minutes. what sample size is need if the agency wants to be 90% confidence of being correct to within +/- 5 minutes? if 90% is desired, how many listeners need to be selected?
An appliance manufacturer claims to have developed a new toaster oven that consumes an average of no more than 250 W. From previous studies, it is believed that power consumption for toaster ovens is normally distributed with a variance of 324 W.
if 100 tires are randomly selected for shipment to an outlet, what is the probability that they are all good? should this outlet plan to deal with defective tires returned by consumers?
Explain why a strong correlation would be found between weekly sales of firewood and weekly sales of cough drops over a 1-year period. Does the strong correlation mean that one variable causes the other?
A doctoral student is designing a research study. She is hoping that the results of the study are statistically significant. What type of p-value would she want to obtain? Select one of the following.
The probabilities of low, medium and high compliance are 0.3, 0.4, and 0.3, respectively
In comparing two variances below, determine test value and what are degrees of freedom that must be used?
What is sampling error? Could value of sampling error be zero? If it were zero, what would this mean?
A researcher studies the relationship between political attitudes and income. He/she finds that those with higher income are more conservative.
Determine the expected market return on $ 20,000 if the expected return on asset is 20%, its beta is 1.5, and the risk free rate is 5 percent?
Here are fifty observations on the weight of tea bags. Calculate the Standard Deviation and Variance.
Compute the variance and standard deviation of the number that will arrive within two days.
When would you use hypothesis testing and when would you use confidence intervals?
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