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Solar energy is considered by many to be the energy of the future. A recent survey was taken to compare the cost of solar energy to the cost of gas or electric energy. Results of the survey revealed that the distribution of the amount of the monthly utility bill of a 3-bedroom house using gas or electric energy had a mean of $92 and a standard deviation of $12. Three solar homes reported monthly utility bills of $55, $53, and $51. Which of the following statements is true? (Hint: Use the z-score.)
Find the probability that in a given month:
Of the households with NOW accounts 79.3% had savings accounts. The probability that a randomly selected household with a savings account has no checking account is?
What maximum variance of the raw score population could you have and still be able to reject the null hypothesis of μ = 20 (α = .05), if the sample size is 100 and the sample mean is 22?
Suppose that among all participants, the mean test score is 70.07 and the standard deviation is 10.27. Use z-scores to interpret a raw score of 80. What is the corresponding z-score? How would you interpret this result? Show your work.
What is the probability of obtaining 4 ones in a row when rolling a fair, six-sided die? Interpret this probability.
The manager is concerned that sales are slipping, after taking into account the average value of sales for four consecutive Saturdays being $4800.
How many books should be tested to estimate with 95% to within 0.1 lb, the average force required to break the binding? Assume that sd is known to be 0.8 lb.
Find the indicated percentage for the normally distributed variable. Round your answer to two decimal places, if necessary.
Where should the warranty limits be set so that only 10 percent of the HDTVs need repairs at the manufacturer's expense?
Advertising coefficient is 200 and t stat is 1.75. Which of the following statements is an accurate interpretation of the situation when using an alpha of .10
To test whether or not there is a difference between treatments A, B, and C, a sample of 12 observations has been randomly assigned to the 3 treatments. You are given the results below.
Is the transportation model the example of decision making under certainty or decision making under uncertainty? Provide the real-world example illustrtating why it is certainty or uncertainty.
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