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A random sample of 81 credit sales in a department store showed an average sale of $68.00. From past data, it is known that the standard deviation of the population is $27.00.
a. Determine the standard error of the mean.
b. What is the 95% confidence interval of the population mean?
The publisher reports that 80% of college professors require or recommend that their students purchase some type of textbook package.
A range of values constructed from sample data so that the parameter occurs within that range at a specified probability is:
Determine the 95% confidence interval for your estimate what data have you utilized as the basis of your predictions what suppositions have you made.
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Internal study by Technology Services department at Lahey Electronics disclosed company employees get the average of 2 emails per hour. Suppose arrival of these emails is approximated by Poisson distribution.
When calculating correlation coefficient, what does a value of -2 indicate? Strong negative correlation, Weak negative correlation.
Describe each of the following methods of statistical inference in detail (Please try to use layman's terms).
In a normal distribution with mean 3 and variance 49, what are the upper and lower limit scores for the middle 50% of the data?
Obtain a test statistic and p-value. Interpret the results at = .01.
Continuous random variable is uniformly distributed between a and b. The probability density function between a and b is.
You are the production manager of a company. Parachutes are woven in your factory using a synthetic fiber purchased from one of four different suppliers. The most important outcome for parachutes is strength of the fabric.
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