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A sample of 64 account balances from a credit card company showed an average balance of $1,040. A previously determined population standard deviation is $200. Test to determine if the mean of all account balances is significantly different from $1,000. Use a 0.05 level of significance. (may use traditional or p-value method)
Why do so many of life's events share the same characteristics with Central Limit Theorem? Why are estimations and confidence intervals important?
If Z = 1.96, s = 3, and E = 1, determine the correct sample size.
The average price of a personal computer is 949 assuming that the prices are normally distributed with a standard deviation of 100 what is the price that corresponds to the least expensive 10%.
What are the assumptions regarding an ANOVA test and what Excel aid would you use to perform the test, Data Analysis or MacDoIt? What are the assumptions regarding a Chi-square test?
Which of the following can be treated as binomial experiment? (a) Surveying 1200 registered voters to determine their preferences for the next president?
Calculate the Mean, Median, Mode, Range and Standard deviation of this sample. Show Calculations: Use any calculation method desired
Your population mean has always been 9 customers per hour. The sample standard deviation is 4. The sample size is 25. The sample mean is 8.
Lead-time demand is 600 pounds. The standard deviation of lead time demand is 52 pounds. Supposing the lead time demand is normally distributed and that an acceptable risk of stocking out is 4%:
A manager of a small store wanted to discourage shoplifters by putting signs around the store saying "Shoplifting is a crime!" However, he wanted to make sure this would not result in customers buying less.
In this paper present the Construction of confidence Intervals and the Proper Interpretation of confidence Intervals and show appropriate examples in the education environment.
Draw the suitable distribution, and locate critical regions for α = .05. Compute test statistics (z score) for the sample.
Draw a sketch of the standard normal distribution curves, one for the current process and another one for the recentered process. Label the spec limits and shade the area of the curve that corresponds to your answer.
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