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Insurance company, based on past experiences, evaluates mean damages for natural disaster in its area is $5000. After introducing several plans to decrease loss, they randomly sample 20 policy holders and determine its mean amount per claim to $4900 with standard deviation of $1300. Does it seem prevention plans were effective in reducing mean amount of a claim? Use 0.05 level of significance. Set up Null and Alternate Hypothesis.
If possible, determine a 95% confidence interval for average number of television sets in all 50,000 households. If this is not possible, describe why not.
A survey conducted by the American Automobile Association of 64 families of size four vacationing in Niagra Falls resulted in an average amount spent per day of $252.45. Assume the population standard deviation of amounts spent per day is estimate..
The following table describes the asset allocation of your portfolio with the corresponding return in percentage, X, and the proportion of that specific asset in the portfolio, P(X).
The number of cases of merlot wine sold by a Paso Robles winery in an 8-year period follows:
Ethics. The one-time fling! Have you ever purchased an article of clothing (dress, sports, jackets, etc.) worn the item once to a party, then returned the purchase?
A restaurant has an ice cream counter where it sells two main products, ice cream and frozen yogurt. The restaurant makes one order for ice cream and yogurt each week, and the store has enough space for 115 gallons of both products.
You want to estimate today's mean temperature, so you make a series of measurements (taken as a sample) throughout the day. The mean of these measurements is 63 degrees Fahrenheit, and their standard deviation is 3.4 degrees Fahrenheit.
The probability that an individual is left-handed is 0.1. In a class of 30 students, what is the probability of finding at least five left-handers?
Interstate 90 is the longest of the east-west U.S. interstate highways with its 3,112 miles stretching from Boston, MA at I-93 on the eastern end to Seattle WA at the Kingdome on the western end. It travels across 13 northern states; the number of..
What is the probability that the mean weight for a sample of 40 trout exceeds 405.5 grams?
What is the intercept for the logistic regression equation and What is a 95% confidence interval for the odds ratio
Many educators feel their grades should fit a normal distribution and often apply curves to make them fit one. One way to do this is to convert numeric grades to z scores using the mean and standard deviation for the grades, then use an equation s..
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