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The time (in years) after reaching age 60 that it takes an individual to retire is approximately exponentially distributed with a mean of about 6 years. Suppose we randomly pick one retired individual. We are interested in the time after age 60 to retirement.
a. What would be the value of the mean of the sampling distribution? b. What would be the value of the standard error of the mean?
Suppose a utility company polls customers to assess their satisfaction with its services.
Determine the first and third quartiles. Develop a box plot. Are there any outliers? Do the amounts follow a symmetric dis- tribution or are they skewed? Justify your answer.
Consider the weighted voting system [16 :12,2,2,1]. Find the Banzhaf power index for each player?
A shipment of TVs contains units that are 70% top quality. Thirty percent (30%) of the TVs are poor quality.
The data to be analyzed consisted of the number of people who rated Crest highest before reading the ad and the number who rated it highest after reading.
Let Nt,t=0 be a Poisson process with intensitya. Let X be a random variable, independent of the Poisson process Nt, meaning that X is independent.
Make a histogram of the percentages from Problem 1. Does the distribution appear to be symmetric? Approximately what percentage of the cholesterol levels lie below 240 mg/100 mL?
Connie wants to have an annuity payment of $2,000 at the END of every three months. How much should she deposit now at 6% interest, compounded quarterly, to yield this payment for 3 years? (Use Table 12-2 in your text)
A nursing school wants to estimate the true mean annual income of its alumni. It randomly samples 120 of its alumni. The mean annual income was $58,700 with a standard deviation of $1,500.
List the assumptions required for the regression analysis.- Locate the estimated standard error of the regression model, s, on the printout.
How many voters required to be sampled to evaluate the proportion within 0.05 with 95% confidence?
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