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Of the 460 respondents in a Christmas tree market survey, 45% had no children at home and 55% had at least one child at home. The corresponding figures for the most recent census are 48% with no children and 52% with at least one child. Test the null hypothesis that the telephone survey technique has a probability of selecting a household with no children that is equal to the value obtained by the census. Give the z statistic (rounded to two decimal places) and the P-value. What do you conclude? (Use = 0.10.)
Use the expected collision payment to determine the collision insurance premium that would enable the company to break even on the policy.
Your financial advisor sees this and tells you there is a 100% chance XYZ stock will gain over the 2-month period. Would you continue to use this financial advisor? Explain.
Caselet on McDonald’s vs. Burger King - Waiting time
Test of claim for the statement made for a given paired sample:
The nighttime cold medicine Dozenol bears the label indicating the presence of 600 mg of acetaminophen in each fluid ounce of drug.
Illustrate that probability distribution of X satisfies properties of a discrete probability distribution.
Consider the experiment of tossing a fair coin three times and observing the number of heads that result (X = number of heads).
Calculate the sample mean and sample standard deviation.
The selection committee of the club is willing to use a 0.01 significance level. You are required to find out whether Amod's salary will be cut next year.
A new product has the following profit projections, associated probabilities, and indifference probability:
What signified to you on all of the problems that required a binomial distribution that you were to use a binomial distribution? Which problems required a binomial distribution?
Make a scatter plot of Y and X1 using Word. To do this click on insert and then chart. Click on X Y (Scatter). Enter the data from the table.
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