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Q1) In standard normal distribution the variance is always.
Q2) Auditor wishes to evaluate what proportions of bank's commercial loan files are incomplete. Auditor randomly samples 100 files and determines 9 are incomplete. Using 95% confidence interval, evaluate true proportion of incomplete files for ALL the bank's commercial loans.
Q3) Determine P(9 < x < 15) when mu = 12 and sigma = 2. Write down your steps in probability notation.
Q4) Automobile safety engineer wishes to evaluate mean cost to repair a Chevy Corvette involved in a 30 mile per hour head-on collision. Engineer crashes 20 Corvettes and determine mean damage is $16,300 with standard deviation of $2,330. Determine a 95% confidence interval for true mean cost to repair this type of car.
Find out the probability that temperature of oven will range from 460 to 470 F?
I want to establish if a new product is worth marketing. At least 85 percent of the public must express interest in the product and for those that do the average cost they are willing to pay must be at least $47.50.
What is the level of measurement for the variable, "political ideology" measured as "Very Conservative", "Conservative","Moderate", "Liberal" and "Very Liberal".
What kind of probability uses sample spaces to find out numerical probability that event will happen?
A processor of carrots cuts green top off each carrot, washes the carrots, and inserts six to a package. Twenty packages are inserted in a box for shipment. To test weight of the boxes, a few were checked.
The firm has already decided that any sample mean below 78 or above 82 will signal the workers that the process is not working properly.
Beta and required rate of return stock has required return of 11%; risk-free rate is 7%t; and market risk premium is 4 %. Determine the stock's beta?
Conduct the following test using 95% level of confidence.
A point estimate for the difference between the mean purchases of the users of the two credit cards is:
What can we say about the form or way of the distribution of the average or median of the sample?
Environmental Protection Agency (EPA) fuel economy estimates for automobile models tested recently predicted a mean of 24.80 mpg and a standard deviation of 6.2mpg for highway driving. Assume that a normal model can be applied.
Create a 90% confidence interval for proportion of all kernels that would not pop.
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