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A major videocassette rental chain is considering opening a new store in an area that currently does not have any such stores. The chain will open if there is evidence that more than 5,000 of the 20,000 households in the area are equipped with videocassette recorders (VCRs). It conducts a telephone poll of 300 randomly selected households in the area and finds that 96 have VCRs. The p-value associated with the test statistic in this problem is approximately equal to?
An economist wishes to estimate the average family income in a certain population. The population standard deviation is known to be $4,500, and the economist uses a random sample of size = 225.
In exercise identify (a) sample and (b) population. Also, find whether sample is likely to be representative of population.
Scientific poll based on 400 hospital patients has just been performed. Determine the probability that at least 70 patients will not be satisfied with after-surgery care?
Last school year, student body of a local university consisted of 30% freshmen, 24% sophomores, 26% juniors, and 20% seniors. A sample of 300 students taken from this year's student body showed the following number of students in each classificati..
The owner of a small computer store personally sells one computer per week on the average. Use the Poisson distribution to find the probability of randomly selecting a week in which she personally sold three computers.
A game involving a pair of dice pays out $4 with probability 16/36, costs you $2 with probability 14/36, and costs you $6 with probability 6/36.
When formulating the conclusion to the test, why is the phrase fail to reject the null hypothesis more accurate than the phrase accept the null hypothesis?
The standard deviation in cash bonuses is $15,618 and the standard deviation in annual pay is $28,077. The estimated slope of best fitting line relating x and y is?
40 were in favor of the Independent candidate, and 140 were undecided. At a 1% level of significance, test to see if the proportion of voters has changed. Calculate the value of the Chi-Square Test Statistic for this problem. What is it?
What is the difference between a null hypothesis and an alternate hypothesis? Explain what is meant by the critical value of a statistical value.
I'm trying to determine what happens to the sample size if the level of confidence is reduced from 95% to 90% but the allowable error and the standard deviation remain
An official of the Iowa department of Highways wants to compare the useful life, in months, of two brands of paint used for striping roads. The mean number of months Cooper Paint lasted was 36.2
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