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A manufacturer makes two models of an item: model I, which accounts for 80% of unit sales, and model II, which accounts for 20% of unit sales. Because of defects, the manufacturer has to replace (or exchange) 10% of its model I and 18% of its model II. If a model is selected at random, find the probability that it will be defective.
This confidence interval can't be trusted to give information about the spending plans of all adults. Why not?
In checking the quality of the work, she notices that some slight blemishes occasionally are apparent. A sample of 20 pieces of work resulted in the following number of blemishes on each piece:
We say that two things have a positive relationship if they move in the same direction, or as one thing increases, so does the other. Or if one thing decreases, so does the other.
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.
If you assume returns follow a normal distribution, which investment would give a better chance of getting at least a $40 million return? Explain. (B) How could your answer to part (A) change if you knew returns followed a skewed distribution inst..
A bag of jelly belly candies contains the following colored jelly beans: red (10), blue (2), orange (5), brown (21), green (0), and yellow (18). Construct the probability distribution for x.
The Price-to-Earnings ratio (P/E) of a publicly listed profit-making company is defined as the ratio of the stock price of the company to the earnings per share.
The distribution of IQ scores is normal, what proportion of the population would score higher than Bob? Lower than Bob?
Machine which fills quart milk cartons is set up to average 32.2 oz per carton, with standard deviation of 1.2 oz. Determine probability that filled carton will contain less than 32 oz of milk?
Find the sample size required. A pilot study showed that the population standard deviation is estimated to be 0.09 g
Suppose that the distribution of weekly water usage for single-family homes in a particular city is mound shaped and approximately symmetric. The mean is 1400 gallons, and the standard deviation is 300 gallons.
If 25 quarters are randomly selected calculate an interval that will include 95% of all the mean weights of randomly selected samples of quarters of size 25.
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