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An automotive repair shop has determined that the average service time on an automobile is 2 hours with a standard deviation of 32 minutes. A random sample of 64 services is selected. What is the probability that the sample of 64 will have a mean service time greater than 114 minutes.
What is the purpose for post tests? To determine how much difference exists between the treatments.
Determine the test statistic. At 95% confidence, test to determine if more than 21% of the population will like the new soft drink.
A new industrial oven has just been installed at the Piatt Bakery. To develop experience regarding the oven temperature, an inspector reads the temperature at four different places inside the oven each half hour.
The average age of the students in the sample was 23 with a standard deviation of 3.5: a) Formulate the hypotheses for this problem.
In a sample of 210 men, 35 prefer sugar free soft drinks. In a sample of 220 women, 42 prefer sugar free soft drinks. Using a significance level of 0.05, test whether women prefer sugar free drinks more than men. Calculate the p-value.
Define a game and prepare the odds of winning. The game could be a card game with two cards or a dice game. Use MS-Excel (if possible) to solve this problem
What is the arithmetic mean selling price?
You're considering investing in a portfolio of the common stocks of four publicly-traded companies with betas as follows:
When a fisherman catches a fish, it is a young one with a probability of 0.23 and is returned to the water. On the other hand, an adult fish is kept to be eaten later.
What are some conditions under which business decisions are made using subjective probability concepts? Could you please cite two examples of subjective probability.
Fifty rounds of a new type of ammunition was fired from a M-1, and the muzzle velocity of the projectile was measured. The sample had a mean velocity of 853 meters per second, with a standard deviation of 2.9 meters per second
Pick a random sample of 50 homes from the enclosed 90 cases. Double the asking price and selling price and use this data to develop three predictive models:
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