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Bill is doing a project for you in the marketing department. In conducting his analysis regarding consumer behavior and a new product that has come out, he tells you the correlation between these two variables is 1.09. What is your response to this analysis?
A random sample of 100 oranges is gathered and the mean diameter obtained was 5.12. If another sample of 100 is taken, what is the possibility that its sample mean will be greater than 5.12 inches.
Is there evidence to suggest a difference in the mean waiting times at the four body shops? Use the .05 significance level.
Find the area under the normal distribution curve to the right of z = -1.03.
You listen to radio station for 1 hour, at arbitrarily selected time, and carefully observe that amount of advertising time is equal to 7 minutes. Compute z-score for this amount of advertising time.
You took a sample of your expenses for 20 weeks and found that the average is $285 and the standard deviation for the sample is $25. Set up your null and alternative hypothesis for testing whether your cists are different and do the analysis using..
He surveys several businesses and finds the standard deviation in monthly advertising costs is $23 for 12 hair salons, and $43 for 8 nail salons.
Company A is hoping to expand its operations and a small group of investors is visiting next week. You are tasked with the duty of explaining how Company A uses this information from a linear programming model to optimize its shipping.
Which measures of central tendency will always have but one (1) value for a set data?
You own a stock called Insurate, Inc. Your profit for the stock is a random variable (W) with mean 1,000 and variance 400. You would like to buy more stock and you are trying to decide between Insurate
The error between the sample mean and the population mean for a sample of n = 16 is 5 points and the error between a sample men and population mean for a sample of n = 100 is 2 points. Explain the difference in the standard error for the two sampl..
Identify and justify which type of sampling (random, stratified, systematic, cluster, convenience) is used in the following examples.
A food snack manufacturer samples 13 bags of pretzels off the assembly line and weighs their contents. If the sample mean is 14.7 oz. and the sample standard deviation is 0.50 oz., find the 95% confidence interval of the true mean.
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