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An entrepreneur is considering the purchase of a coin-operated laundry. The present owner claims that over the past 5 years, the average daily revenue was $675 with a standard deviation of $75. A sample of 30 days reveals a daily average revenue of $625. If you were to test the null hypothesis that the daily average revenue was $675 and decide not to reject the null hypothesis, what can you conclude?
There is not enough evidence to conclude that the daily average revenue was $675.There is not enough evidence to conclude that the daily average revenue was not $675.There is enough evidence to conclude that the daily average revenue was $675.There is enough evidence to conclude that the daily average revenue was not $675.
A tube of Listerine Tartar Control tooth paste contains 4.2 ounces. As people use the tooth paste, the amount remaining in any tube is random.
Suppose that we generate a random sample from a given distribution. If it is desired that the probability that the sample mean will be within 2 standard deviations of the mean of the distribution is at least .99, how large should the sample size b..
The owner of a mail-order catalog would like to compare her sales with the geographic distribution of the population. According to the United States Bureau of the Census
2 cards drawn from a 52 but before the second card is drawn you put the first one back and reshuffle the deck. Are the outcomes on the two cards independent and why?
Test whether there is a statistical difference between the two proportions at the 5% significance level.
How many days should be considered if a 95 percent confidence is used and the estimate is to be within one hundred dollars?
Use the table to determine whether the correlations are significant and how you would interpret the results. The correlation between speed and strength for 20 women is .567. Test these results at the .01 level using a one-tailed test.
According to the National Football League, the average salary for players for the 2010 season was about $1.9 million while the median salary is around $770,000. Why are both numbers reported? What might the difference between the two statistics me..
Describe your selected research issue, problem, or opportunity. Formulate both a numerical and verbal hypothesis statement concerning your selected research issue, problem, or opportunity.
we wish to estimate the mean using a sample size of n = 49. Find the probability that we could be correct within 1kg/m 2 .
You've been recently hired as a marketing analyst in an advertising agency. You are assigned the task of assessing the impact of direct marketing promotions.
Mr. James McWhinney, president of Daniel-James Financial Services, believes there is a relationship between the number of client contacts and the dollar amount of sales.
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