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36% of women consider themselves fans of professional baseball. You randomly select six women and ask each if she considers herself a fan of professional baseball.
(a) Construct a binomial distribution using n=6 and p=0.36.
The monthly income of residents of Dayton is normally distributed with a mean of $3000 and a standard deviation of $500.
A state meat inspector in lowa has been given the assignment of estimating the mean net weight of packages of ground chuck labeled " 3 pounds." Of course, he realizes that the weights cannot be precisely 3 pounds.
The lifetimes of light bulbs of a particular type are normally distributed with a mean of 370 hours and a standard deviation of 5 hours. What percentage of bulbs has lifetimes that lie within 1 standard deviation of the mean on either side?
a non profit company concerned with the school dropout rates in a nearby state has designed a tutoring program aimed at
Insurance companies collect annual payments from homeowners in exchange for paying to re- build houses that burn down.
In this economically challenging time, yours truly, CEO of the Outrageous Products Enterprise, would like to make extra money to support his frequent filet-mignon-and-double-lobster-tail dinner habit.
Use an Excel spreadsheet to determine the dollar net cash flows (after making the debt payment) that you would receive at the end of each of the last 7 years if you partially ?nanced the project by bor- rowing dollars.
Is it reasonable to conclude the mean income of those selecting Plan B is larger? What is the p-value? Do the coefficients of skewness affect the results of the hypothesis test? Why?
Then apply regression analysis in which the percentage change in the trade balance is the dependent variable and the percentage change in the exchange rate is the independent variable. Is there a significant relationship between the two variables?..
Formulate a suitable null and alternative hypothesis to test the students' claim that they followed their instructor's recommendation at a 5% level of significance and interpret your findings.
Let X1, ... , Xn be i.i.d. r.v.'s with (?nite) unknown mean m and (?nite) known variance s 2, and suppose thatn is large. i) Use the CLT to construct a con?dence interval for m with approximate con?dence coef?cient 1 - a;
A part is produced with a mean of 6.2 ounces and a standard deviation of 0.2 ounce. What is the probability that the weight of 100 such items is between 6 l6 and 624 ounces?
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