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A researcher is interested in estimating the average salary of teachers in a large urban school district. She wants to be 95% confident that her estimate is correct. If the standard deviation is $1050, how large a sample is needed to be accurate within $200?
When someone buys a ticket for an airline flight, there is a 90% probability that a person will not show up for the flight. Air America books 15 people on a commuter flight that can only seat 13 passengers.
How would the General Counsel's decision in Part (b) change if the cost of selling the second suit were only $200,000? What if the cost were $900000?
Poisson random variable with a mean rate of 8 messages per hour. What is the probability that fewer than three messages are received in one-half hour?
The t-statistics that was obtained in the study of 400 subjects was t=20, rejecting the null hypothesis and showing that the drug has a beneficial effect. Why was management upset?
How much would ING be willing to pay if the General Counsel could arrange for an absolutely reliable mock trial?
The manufacturer of a nationally known "lite beer" claims that the approval rating for it's product is at least 85%. A local soft drink manufacturer has retained a marketing agency to test the "lite beer".
What is the probability that a particular driver had exactly two speeding violations?
Sketch the distribution of Stanford -Binet IQ test scores. Write the equation that gives the z score corresponding to a Stanford-Binet IQ test score. Sketch the distribution of such z scores.
Choose a product you are familiar with as a consumer. Answer the following. What type of demand patterns would that product have - cyclical, secular, seasonal, etc. or a combination of several types? Explain.
Decide between two stock investment choices. Determine the probability for each condition to make the investment even between the two.
The president of the American Insurance Institute wants to compare the yearly costs of auto insurance offered by two leading companies.
Is there a significant difference the four testing conditions?
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