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Suppose you have a project that has a .7 chance of tripling your investment in a year and a .3 chance of halving your investment in a year. What is the standard deviation of the rate of return on this investment?
A doctor is doing research on the effects of medicine in a patience body. He randomly selects 10 patients that have been given a medication and records the number of days that have passed since they have taken the drug and concentration of the dru..
What is the purpose of a survey? What are three examples of a survey and what potential purpose could each be used for? How can one work to ensure the participants of a survey will have their responses kept private?
Evaluate the value of the F statistic for Devices- I plan an experiment to test the latest conflicting diet programs. The factor for Diet will involve three different levels: low fat, low carbohydrate, and low calorie. The other factor will involve..
The mayor of a small town would like to know whether a local bond issue is likely to pass or not. He mails a survey to 500 randomly selected voters.
A small business owner is experiencing a high staff turnover and wants to design a study to investigate the problem. What is the probability of randomly chosen student scoring at least 60?
How many seats sould be in the non-smoking area in order to be very sure (mean+3StandardDeviation) of having enough seating there?
Researchers wanted to determine if there is a difference in the mean credit card debt owed by males versus females. Using α = 0.10, is there a difference. (Show all six steps of hypothesis testing.)
After computing a confidence interval, the investigator believes that the results are meaningless because the width of the interval is too large. In reconstructing the interval, the investigator should: decrease the sample size.
Suppose they solicit 400 customers one day, and find that 250 of them have a Grayson's card. Assume that 60% of all Grayson's customers have a discount card, what is the probability of getting a sample proportion of at least 250 / 400=0.625?
Mr. James McWhinney, president of Daniel-James Financial Services, believes there is a relationship between the number of client contacts and the dollar amount of sales.
Determine the average number of parts waiting to be worked on, the percentage of time the operator is working, and the percentage of time the machine is idle.
Perform a hypothesis test with significance level 5%. Show all work, and clearly state your conclusion.
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