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The normal distribution is one of the most useful distributions that has applications in many business settings. Assume you are a business analyst in Costco, and you want to re-evaluate the replenishment order point to efficiently plan the inventory of fresh produce imported from the USA to satisfy customers' demand while supplying fresh produce. Assuming the daily demand follows a normal distribution, discuss how you would approach this task. What data do you need to collect? And what measures do you need to find? (Hint: think about the probability of stockout during replenishment time
Please explain the term analysis variance so a person without formal statistics education can understand.
Conduct all 6 steps of the appropriate statistic and calculate and interpret the effect size for this test - Report the statistics as you would in a journal article.
Is there any evidence to suggest that the variability in shot distance is greater in the year 2013 than it was in 1975? Use a = 0.01 and assume normality.
Test the null hypothesis that the two proportions are equal versus the two-sided alternative. Report the test statistic with the P-value and summarize your conclusion.
A) What would be the consequences of making a Type II error in this problem? B) Compute the Probability of making a Type II error if the true population mean.
Suppose 1 in 100,000 is a correct estimate of the chance of such a failure. If a shuttle was launched every day, about how many failures would one expect.
As part of your capstone project you must show growth from the pre-test to the post-test. The college requires you to use a significance level of .05.
The maturity risk premium is 0.40 percent on 2-year securities and increases by 0.07 percent for each additional year to maturity. Calculate the default risk premium on NikkiG's 10-year bonds. (Round your answer to 2 decimal places.)
Airplane safety. Suppose that 62% of all adults think that airplanes would be safer places if pilots carried guns. An opinion poll plans to ask an SRS of 1009.
Dozens of species of plants and animals are being wiped out every year, even though we have laws to prevent it. Clearly, we should repeal the Endangered.
The following data set represents the samples that result after sampling with replacement from the original data set five times.
The management of the company wishes to be 95?% confident that the sample mean is correct to within plus or minus±?$60 of the population mean.
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