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The manager of a department store is thinking about establishing a new billing system for the store's credit customers. After a thorough financial analysis, she determines that the new system will be cost-effective only if the mean monthly account balance is more than $170. A random sample of 400 monthly accounts is drawn, and the average account balance for the sample is found to be $178. Based on historical information, the manager knows that the population standard deviation for the account balances is $65. Can the manager conclude from this that the new system will be cost effective? Use a 5% significance level.
Consider a binomial distribution with fifteen trials and probability of success on a single trial p = 0.25. Create a worksheet showing values of r and corresponding binomial probabilities. Generate a bar graph of the distribution
A California lawyer practices law, on the average, for 30 years. Assuming these members remain steady, how many lawyers would you expect California to have in 2050.
what is the area under the normal curve between z -1.0 and z
one measure of the risk or volatility of an individual stock is the standard deviation of the total return capital
1. Given the recurrence relations. Find T(1024).
Is a sample size of 1,000 a reliable measure for a population of 5,000? Is a sample of 500 volunteers a reliable measure for a population of 2,500?
An Excel Spreadsheet is reprinted below. Interpret the t-test results. Are they statistically significant?
you want to compare response rates percents of two regimens. a power of 90 and a two-sided test of size 0.05 are
The treatment is given to only n = 20 patients. What is the probability that the treatment is successful for 70% or more of these 20 patients?
What is the probability that the weight of a randomly selected bushel of corn is more than 90 pounds?
At the 0.025 level, is this significantly greater than the 50% that could be expected simply by chance? Determine and interpret the p-value for the test.
A local paper believes that over 40% of all residents read its newspapers. In a random sample of 200 residents, 55% state that they read the paper. What are the null and alternate hypotheses being tested?
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