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The manager of the Gander Mountain store in Frogtown, IL, believes that his prices for ammunition are lower than the prices of his primary competitor in the hunting equipment market, Cabela's. He would like to be able to provide evidence to support this assertion.
• What are the Gander Mountain manager's null and alternative hypotheses?
• How should he go about taking samples to gather data for testing the hypotheses?
• What statistical test should he use to test his hypothesis, using the data he has collected?
Customers enter the waiting line at a cafeteria on a first-come, first-served basis. The arrival rate follows a Poisson distribution, while service times follow an exponential distribution.
Given the following data, 1) how do you make Excel create a scatter diagram for you? 2) If you were to draw a line through the points, how straight would the line be?
Using the 0.10 level of significance, is there evidence that the population mean is above $300?
Albert Einstein stated, "The formulation of a problem is far more often essential than its solution, which may be merely a matter of mathematical or experimental skill.
How large sample size must be taken to be 95% confident.
a. what is the point estimate of the population mean? b. what is the point estimate of the population standard deviation?
The so-called "Gambler's Fallacy" makes the mistake of not recognizing:
Sampling area consisted of an area of 120m x 50m within site two and was bordered by a road on one side and a stream on another.
A box contains 10 chips. The chips are numbered 1 through 10. Otherwise, the chips are identical. From this box, we draw one chip at random, and record its value.
The following table describes the asset allocation of your portfolio with the corresponding return in percentage, X, and the proportion of that specific asset in the portfolio, P(X).
Determine the centerline and the upper and lower control limits for a 3-sigma mean control chart in which each sample consists of 4 cylinders
If circuit switching is utilized, how many user can this access link support?
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