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A major department store chain is interested in estimating the average amount its credit card customers spent on their first visit to the chain's new store in the mall. Fifteen credit card accounts were randomly sampled and analyzed with the following results: bar {X} = $ 50.50 {text{ and }}s^2 = 400. Assuming the distribution of the amount spent on their first visit is approximately normal, what is the shape of the sampling distribution of the sample mean that will be used to create the desired confidence interval for μ?
Carry your intermediate computations to at least three decimal places. Round your answers to one decimal place. What is the lower limit of the 90% confidence intervel? What is the upper limit of the 90% confidence interval?
The time to complete a construction project is normally distributed with a mean of 60 weeks and a standard deviation of 4 weeks. What is the probability the project will take longer than 65 weeks?
A radio station wants to know if residents in their area are in favor of a proposed tax increase. They invite listeners to call in to respond to the poll. 645 of the 800 who responded were against the tax.
Management wishes to test whether each shopper is spending an equal amount of money at each store. Calculate the sums of squares SS(total), SS(factor), and SS(error)
What are examples of the populations parameters we are trying to estimate for sample data?
An insurance company sells $300 deductible annual automobile insurance policies to a certain category (age, driving records) for $1000.00 The insurance company has set four different accident types
Convert each of the following z intervals to x intervals.
There is a statistical deception here. Explain what is deceptive about the bar graph.
Based on your experience using ANOVA and Nonparametric tests, what additional information would you recommend to the key decision maker solve the challenges given in a company that provides software solutions to wide range of clients?
Do the data indicate that the lengths of one supplier's 2x4's are subject to more variability than those of the other supplier? Assume α = 0.05. (HINT: F Test for Differences in Two Variances)
"Give an example of a statistic that you have heard quoted in the media that you do not believe is accurate either due to bias or other incorrect statistical methods. Describe the relevant population and the source (e.g. newspaper, TV, radio, inte..
According to the National Association of Homebuilders, the average life expectancies of a dishwasher and a garbage disposal are about the same: 10 years.
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