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Sea Fair Fashions relies on its sales force of 220 to do an initial screening of all new fashions. The company is currently bringing out a new line of swimwear and has invited 40 salepeople to its Orlando home office. As issue of constant concern to the SeaFair sales office is the volume of orders generated by each sales person. Last year, the overall company average was $317,330 with a standard deviation of $45, 285 (Hint: the finite population correction factor, is required).
a) Determine the probability the sample of 40 will have a sales average less than $400,000.
Assume that correlation coefficient between 2 variables is nearly zero. What does this say about relationship between them?
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Compute mean x and standard deviation s of data above. Calculate Ho by using traditional/classical method.
In the last municipal election, a sample of 350 registered voters showed that 85 voted for the incumbants. Find out a 98% confidence interval estimate for the proportion of all voters voting for the incumbants.
This problem has to do with graphical plotting and computation for certain distribution. Please mention a detailed response to the questions listed with appropriate graphical and statistical data representation(s).
Determine whether the difference in proportions is significant at the 0.05 level.
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Compute the standard error of the sampling distribution of sample means.
Determine the percent of the days is the price between $38.00 and $40.00?
Assume that the annual rate of return for a common biotechnology stock is normally distributed with a mean of 5.5% and a standard deviation of 6%.
Use a .10 level of significance to test the claim that the variance of all scores in the population is more than 9.
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