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In grading eggs into small, medium and large, Margi farms packs the eggs that weigh more than 4.25 ounces in packages marked " large" and the eggs that weigh less than 2.45 ounces in packages marked " small" the remainder are packed in packages marked " medium". If a day's packaging contained 10.56% large and 4.01% small eggs, calculate the mean and the standard deviation of the weights of eggs ( Assume that the distribution egg weights is normal)
The director of admissions at a large university advises parents of incoming students about the cost of textbooks during a typical semester.
Test the hypotheses that the average household income in the township is greater than $100,000. Hint: Start by stating the null and alternative hypotheses.
Assume the population standard deviations are not the same. At the .05 significance level, is there a difference in the mean waiting time?
In what sense is this business problem? A societal problem? An individual problem?
Find out the probability
Test the given claim. Identify the null hypothesis, alternative hypothesis, test statistic, P-Value or critical value(s), conclusion about the null hypothesis, and final conclusion that addresses the original claim.
a) Do a test to see if workers attitudes on this matter have changed using a 90% alpha. b) Explain to management what your findings are and what this suggests about future decisions vs work options.
The number of runs with respect to the sample median is:
Assume that correlation coefficient between 2 variables is nearly zero. What does this say about relationship between them?
Criterion of realism or Hurwitz. Assume that the payoff from an investment depends on market conditions. Illustrate what is the criterion of realism value.
Test at 5% significance level null hypothesis that population mean is 40 hours against alternative that it is higher.
How many units of capacity should be built to minimize the total cost of providing capacity plus lost sales?
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