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A real estate agent has four houses to sell before the end of the month by contacting prospective customers one by one. Each customer has an independent 0.24 probability of buying a house on being contacted by the agent.
a. If the agent has enough time to contact only 15 customers, how confident can she be of selling all four houses within the available time?b. If the agent wants to be at least 70% confident of selling all the houses within the available time, at least how many customers should she contact? (If necessary, extend the template downward to more rows.)c. What minimum value of p will yield 70% confidence of selling all four houses by contacting at most 15 customers?d. To answer (c) above more thoroughly, tabulate the confidence for p values ranging from 0.2 to 0.6 in steps of 0.05.
Telephone calls arrive at a switchboard in a Poisson process at the rate of 2 per minute. A random one-tenth of the calls are long distance.
Provide one example in the accounting department that you can apply a contingency table to. Briefly explain how a contingency table can be useful.
Here is a scatterplot of average crawling age versus average outdoor temperature six months after birth followed by a plot of the residuals versus average outdoor temperature six months after birth.
The shell thicknesses of the eggs produced by a large flock of hens follow approximately a normal distribution with mean equal to 0.38 mm and standard deviation equal to 0.03 mm. Find the 95th percentile of the thickness distribution.
What do these results say about testing with group data? Include in your answer the URLs of the sites where you found the necessary data.
What are planned comparisons? Why do researchers making planned comparisons need to make the Bonferroni correction? If a researcher is making four planned comparisons using the .05 significance level
Use a calculator or appropriate computer software to verify that, for the preceding data, xbar = 5.1.
How many units of capacity should be built to minimize the total cost of providing capacity plus lost sales?
What would be your recommendation to the local Farm Bureau for estimating the average loss of production per acre, given the data you have at hand?
A random sample of eight cars from each manufacturer is selected, and eight drivers are selected to drive each automobile for a specified distance.
State the reasons for your decision and include an explanation of why you did not follow the recommendations of the stakeholders.
Assume the wages are normally distributed with a standard deviation of $0.45. If a worker at this car wash is selected at random, what is the probability that the worker earns more than $6.75?
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