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An estimate is needed of the mean acreage of farms in Manitoba, Canada. The estimate should be correct to within 100 acres with probability 0.95. A preliminary study suggests that 500 acres is a reasonable guess for the standard deviation of farm size.
How large a sample of farms is required and given that random sample size found, The sample has a standard deviation of 300 acres, rather than 500. What is the margin of error for a 95% confidence interval for the mean acreage of farms?
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?
he Department of Motor Vehicles (DMV) can service customers at a rate of 20 per hour (or 1/3 per minute) when it comes to license renewals. The service time follows an exponential distribution.
Why is the F distribution important? How do you determine if a significant difference exists among the groups in ANOVA? How do you determine differences between the groups in ANOVA?
A government survey conducted to estimate the mean price of houses in a metropolitan area is designed to have a margin of error of $10,000.
How would a decrease of $1 in the x1 coefficient of the objective function affect the optimal values of the decision variables?
In the early years of the twenty-first century, annual salaries for federal employees in the Upper Midwest averaged approximately $42,000, with a population standard deviation (σ) of $4,900. If we drew a random sample of 25 federal employees from ..
Horace Mann, principal of Jones Public School, has decided to construct a time series model to obtain a 2- and a 3-period moving average to forecast student enrollments for next term.
Hits on a personal web site occur quite infrequently. They occur randomly and independently with an average of five per week.
Multiple choice question using Forecasting techniques. Which among of the following models are best suited to forecast a time series with a stable seasonality component.
For a standard normal curve, find the z-score that separates the bottom 90% from the top 10%.
Find out the probability of an event relies on past history of record data. The relative frequency method of computing the probability of an event relies on past history.
If you did not know anything about standard deviation of population from which sample was taken, find out the 95% confidence interval for mean test score.
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