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The quality control manager at a light bulb factory needs to estimate the average life of a large shipment of light bulbs. A random sample of 64 light bulbs indicated a sample average life of 300 hours with a sample standard deviation of 100 hours.
(a) Set up a 95% confidence interval estimate of the true average life of light bulbs in this shipment.
(b) Do you think the manufacturer has the right to state that the light bulbs last an average of 400 hours? Justify your answer.
(c) Explain why an observed value of 250 hours is not unusual for an individual light bulb, even though it is outside the confidence interval you calculated.
Should Mark use the study? Why? What is the maximum amount Mark should be willing to pay for this study? What is the maximum amount he should pay for any study?
You want to create a 90% confidence interval for the true average number of yards per game he throws. What is the margin of error for this estimate?
ABC Auto Insurance classifies drivers as good, medium, or poor risks. Drivers who apply to them for insurance fall into these three groups in the proportions: 30 percent, 50 percent, and 20 percent, respectively.
What proportion of observed variation in hardness can be explained by the simple linear regression model relationship between hardness and elapsed time? (Give the answer to three decimal places.)
How does a researcher determine the meaning of a score on a norm-referenced test such as an IQ test? Why are raw scores transformed to standardized scores, such as z-scores, in order to interpret those raw scores?
If the sales, employment, production, and other business series increase or decrease over a period of time and approximate a straight line, the equation for this growth is given by
A start-up publishing company estimates that the fixed costs of its first major project will be $190,000, the variable cost will be $18, and the selling price per book will be $34.
Determine the sample size necessary to estimate a population proportion to within .03 with 90% confidence assuming you have no knowledge of the approximate value of the sample proportion.
If you must estimate the population mean within 10 days, how many outside salespeople should you sample? Use the 90 percent confidence level.
Calculate sample proportion and then also calculate a 99% confidence interval for true population proportion, p.
To test the hypothesis that students who finish an exam first get better grades, Professor Barker kept track of the order in which papers were handed in.
The mean top of knee height of a sitting mate is 20.7 in.
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