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Let x denote the time it takes to run a road race. Suppose x is approximately normally distributed with a mean of 190 minutes and a standard deviation of 21 minutes. If one runner is selected at random, what is the probability that this runner will complete this road race in less than 231.58 minutes?
We suspect that automobile insurance premiums (in dollars) may be steadily decreasing with the driver's driving experience (in years), so we choose a random sample of drivers who have similar automobile insurance coverage and collect data about th..
If 36 sand dollars are selected at random for collection, determine the probability that average diameter of those sand dollars is more than 3.80 centimeters. Suppose that variable is normally distributed.
Suppose that you're the Quality Manager for the Emerson D. Meritz Machine Tool Company. Your model IE566 grinding machine is afflicted by three types of defects classified as major (type A), serious (type B) and minor (type C).
The following table is from the Social Security Actuarial Tables. For each age, it gives the probability of death within one year, the number of living out of an original 100,000 and the additional life expectancy for a person of that age.
Prepare an analysis of your survey. Determine if you have used the appropriate measures to research your business problem, and identify the level of measurement being used for each of your survey questions.
Do you use probability in your profession or real life? You most likely do. For example, chance of rain tomorrow is 27%. We hear similar probabilities in the media all the time.
Consider the following estimated regression equation, based on 10 observations.
A TV spot in the Channel 22 early news costs $1500. The average quarter hour Adult 25-54 audience is 15,000. What is the CPM?
University officials at a major university would like to use three -term moving averages to examine enrollment. Enrollment data (in thousands of students) for the 12 most recent terms are shown in middle column of the table below.
Which of the following survey questions will deliver an unbiased response? Should the city ban smoking in restaurants to protect our children from second hand smoke?
You are working on an analysis of your company's current cost structure reviewing the various fixed and variable costs within your firm. Your objective is to maximize your firms profit.
Give an example of two variables that probably have a significant linear correlation coefficient, but one variable does not necessarily cause the other.
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