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An automobile manufacturer would like to know what proportion of its customers are not satisfied with the service provided by the local dealer. The customer relations department will survey a random sample of customers and compute a 99% confidence interval for the proportion who are not satisfied.
(a) Past studies suggest that this proportion will be about 0.2. Find the sample size needed if the margin of error of the confidence interval is to be about 0.015.
(b) When the sample is actually contracted, 10% of the sample say they are not satisfied. What is the margin of error of the 99% confidence interval?
A simple random sample of 6 recent graduates revealed the following information about their weekly incomes. What is the expected value of the average weekly income of all the recent graduates?
This linear regression model was fitted to a sample of size 50 to produce the following regression equation: yhat = 145 + 1.2x1 + 300x2.
Construct a 95% confidence interval for the population mean, assuming a normal distribution?
The Price-to-Earnings ratio (P/E) of a publicly listed profit-making company is defined as the ratio of the stock price of the company to the earnings per share.
A store has an average of 25 people arriving each minute to checkout and each person on the average require 4 minutes to be processed at the checkout. What is the minimum number of cashiers required?
Of the estimated natural gas reserves in North America, 4.59 *10^9 m ^3 are in United States. 2.66*10^9 m^3 are in Canada, and 1.99*10^9 m^3 are in Mexico.
Recall that the trash bag manufacturer has concluded that its new 30 gallon bag will be the strongest such bag on the market if its mean breaking strength is at least 50 pounds.
An F statistic is any statistic that follows an F distribution. Which of the following are true about F statistics and f distribution? Select all that apply
A survey of undergraduate students in the School of Business at Northern University revealed the following regarding the gender and majors of the students:
In a sample of 1,000 representing a survey from the entire population, 650 people were from Laketown, and the rest of the people were from River City.
At the 5% level of significance test whether the bottling process is carried out accurately or whether the filling machinery needs calibration. Use both the critical and the p-value approaches.
Developing the histogram and pie chart for the sample data.
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