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When do Americans decide what to make for dinner? An outline survey indicated that 74% of Americans decided either at the last minute or that day. Suppose that the survey was based on 500 respondents.
(a) Construct a 95% confidence interval estimate for the proportion of Americans who decided what to make for dinner either at the last minute or that day.
(b) Construct a 99% confidence interval estimate of the proportion of Americans who decided what to make for dinner either at the last minute or that day.
(c) Which interval is wider? Explain why this is true.
Each scenario involves randomly selecting n i observations from four, independent, Normal populations as described.
We want 95% confidence that the sample mean is within $5 of the population mean, and the population standard deviation is known to be $63.
A bank's loan officer rates applicants for credit. The ratings are normally distributed with a mean of 175 and a standard deviation of 15. If an applicant is randomly selected, find the probability of a rating that is between 150 and 200.
A person has purchased 5 of 1,000 tickets sold in a certain raffle. To determine the 10 prizewinners, 10 tickets are drawn at random and without replacement. compute the probability that he wins at least one prize.
Assume the observed value of the test statistic is 1.53. What is the smallest level for which there is sufficient evidence to reject H 0 (i.e. the p-value for this test)?
Customers bought 5 times as many boxes of light bulbs as switch plates. How many of each did Light Bright Warehouse sell?
Clark Heter is an industrial engineer at Lyons Products. He would like to determine whether there are more units produced on the afternoon shift than on the day shift.
Determine the probability that adult owns stock and has some college education? Determine the probability that adult owns stock or has some college education?
Calculate descriptive statistics for each stock and the S&P 500. Comment on your results. Which stocks are the most volatile? Calculate the value of beta for each stock.
Help with showing how do detrime the standard deviation of a problem when the standard deviation is 5. An example would help me to work out a problem for the normal probability distribution.
Determine the point estimate and 95% confidence interval for the mean family dental expenses of all employees of the company.
What is an example of a research problem at your organization that would benefit from the use of either descriptive statistics or probability distribution statistics? Explain.
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