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How many business students must be randomly selected to estimate the mean monthly earnings of business students at one college? We want 95% confidence that the sample mean is within $128 of the population mean, and the population standard deviation is known to be $536.
A sample of 25 MBA students taking OTM course in the Spring of 2013 shows an average income of $85,000 with the sample standard deviation of $5,000. Find the 95% confidence interval of the population mean income of MBA students.
State the decision rule using the .01 significance level. Compute the value of chi-square. What is your decision regarding Ho?
If the limits of the confidence interval of the difference between the means of two normally distributed populations were 3.5 and 5.5 at the 95% confidence level, then we can conclude that we are 95% certain that there is a significant difference ..
Founder of modern probability and statistics theory Cardano asserted that if one throws a die three times the chance that a given number will show at least once is 50 percent. This is now recognized as the wrong answer. Calculate, what is a probab..
The weekly output of a steel mill is a uniformly distributed random variable that lies between 110 and 175 metric tons. Compute the probability that the steel mill will produce more than 150 metric tons next week.
Compute the value of t. What is your decision regarding the null hypothesis? Briefly summarize your results.
Copying times average 8 minutes according to an exponential distribution. What are the operating characteristics for this system?
Computation of Expectation, Variance and Covariance.Calculate the variances of Y1 and Y2.
Consider the continuous random variable X, which has a uniform distribution over the interval from 20 to 28. The probability that X will take on a value between 21 and 25 is.
What is the probability that the total number of customers who enter the supermarket in one day is greater than 11700?
The theory underlying inferential statistics and other theoretical aspects are subjects we do not often consciously think about in our daily activities.
Pilot sample of n = 50 tires illustrated sample standard deviation equal to 4,000 miles. Based on this information, required sample size is?
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