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Gear tire Company has produced a new tire with an estimated mean lifetime mileage of 36,500 miles. Management also believes that the standard deviation is 5000 miles and that tire mileage is normally distributed. Use a worksheet to simulate the miles obtained for a sample of 500 tires.
A. Use the Excel COUNTIF function to determine the number of tires that last longer than 40,000 miles. What is your estimate of the percentage of tires that will exceed 40,000 miles?
B. Use COUNTIF to find the number of tires that obtain mileage less than 32,000 miles. Then find the number with less than 30,000 miles and the number with less than 28,000 miles.
C. If management would like to advertise a tire mileage guarantee such that approximately no more than 10% of the tires would obtain mileage low enough to qualify for the guarantee, what tire mileage considered in part (b) would you recommend for the guarantee?
The manager requires the estimate to be within 1.0 minutes of the population value. What sample size is needed?
Test the claim that the proportion of the people reporting imporvement was higher amoung the experimental treatment group than the control treatment. use z= 1.96.
Construct a 95% confidence interval for the average amount its credit card customers spent on their first visit to the chain's new store in the mall assuming that the amount spent follows a normal distribution.
Estimate the true mean price for this particular model with 95% confidence?
The Money & Investing section of The Wall Street Journal contains a summary of daily investment performance for stock exchanges, overseas markets, options, commodities, futures, and so on.
Calculate sample proportion and then also calculate a 99% confidence interval for true population proportion, p.
Concept of statistical signi cance
In a large population of college-educated adults, the mean IQ is 118 with a standard deviation of 20. What is the probability that a randomly selected adult from this population has an IQ that is greater than 120?
A psychologist interested in political behavior measured the square footage of the desks in the official office of four U.S. governors and of four chief executive officers (CEOs) of major U.S. corporations.
Multiple choice questions based on multiple regression - Find the coefficient of determination for the above model
Find the critical value Zc necessary to form a confidence interval at the given level of confidence.
Determine the probability in big class that both sections are covered? Only one section? Neither section? Determine the expected number of sections covered?
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