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What are some differences between discrete and continuous data? Is the measurement of money continuous or discrete? Explain. Can discrete data be analyzed using a normal distribution? Why or why not?
A random sample of 50 households revealed a mean of $112,000 and a standard deviation of $40,000. What is the standard error of the mean?
Determine the best replacement policy over the next five years?
Use a 1% level of significance to test the claim that there are more calls during the night than in the day.
In baseball, a "no-hitter" is a regulation 9-inning game in which the pitcher yields no hits to the opposing batters. Chance (Summer, 1994) reported on a study of no-hitters in Major League Baseball (MLB).
Machine which fills quart milk cartons is set up to average 32.2 oz per carton, with standard deviation of 1.2 oz. Determine probability that filled carton will contain less than 32 oz of milk?
Graph the distribution using a histogram. Calculate the mean and standard deviation.
It has been evaluated that 30% of all farms are family-owned. In sample of 12 farms, determine the probability that exactly 3 farms are family owned?
What is Excel formula in B9 giving first value of coefficient in the objective function?
Chi-square tests are great to show if distributions differ or if two variables interact in producing outcomes. What are some examples of variables that you might want to check using the chi-square tests? What would these results tell you?
Using these data, construct a 99% confidence interval to estimate the average number of days and excavator is rented to a client, and assume the number of days per rental is normally distributed in the population.
Use the sales data given below determine: a) The least square trend line.
What would you recommend Taylor do to cut back its labor cost? (Illustrate using an ABC plan.)
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