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A sample of charge accounts at a local drug store revealed the following frequency distribution of unpaid balances.
Unpaid Balance Frequency10 - 29 130 - 49 650 - 69 970 - 89 1190 - 109 13
a. Determine the mean unpaid balance.b. Determine the variance.c. Determine the standard deviation.d. Compute the coefficient of variation.
Your company has experienced problems with employee morale and productivity. The consultant that was hired submits a report that includes opinions and data collected from 300 secretaries and clerks as well as 75 senior managers.
Make three-month and four-month moving averages for this time series. Does the three-month or four month moving average provide the better forecast? Explain.
If you randomly select ten m&m's, what is the probability that exactly three of them are green?
An owner of a fast food restaurant reported to corporate headquarters that the average bill paid by his customers in the last quarter was $6.20 and that the standard deviation was $1.90.
Within each of your current careers/ jobs, there are sets of data that can be analyzed. For example, a teacher can use a set of test scores, a dietician can analyze a set of patient weights and correlate them to incidences of diabetes, and a sales..
There are four entrances to the Government Center Building in downtown Philadelphia. The building maintenance supervisor would like to know if the entrances are equally utilized.
What can you conclude regarding the information? Who tends to order the most or least number of condiments?
Why do the critical values from the Chi-square distribution get larger as the degrees of freedom get larger? Recall that this is opposite the pattern for the t-table.
Reliable Furniture is a family business that has been selling to retail customers in the Chicago area for many years. They advertise extensively on radio and TV, emphasizing their low prices and easy credit terms.
What are some real life examples of the use of Chi-Square tests using contingency tables? Why is a test, which is testing significant differences among means called Analysis of Variance?
Also, 72 percent of the managers have MBA degrees. Using the probability formulas, find the proportion of employees who either have MBAs or are managers.
What can you say with 95% confidence about the percent of all American adults who think that humans developed from earlier species of animals.
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