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You are the shipping manager at the postham company you are interested in the percentage of packages delivered damaged a simple random sample of 500 packages yiields 16 delivered damaged and 484 delivered undamaged how many packages should be sampled in order to be 90% confident of being within 0.9% of the actual population percentage delivered damaged.
Looking for 1-2 paragraphs per question with explanations and an example to help illustrate them. I get the basic idea of each question, but I would like something more illustrative to nail down the topics
An economic researcher would like to know whether he can reject the null hypothesis at the 0.10 level, that no more than 20% of the households in Pennsylvania make more than $70,000 per year.
To test this notion, eight paid volunteers were placed (individually) in a room in which there was no light from the outside and no clocks or other indications of time.
Assume there are 18 homes in the Quail Creek area and 8 of them have a security system. Five homes are selected at random: What is the probability all five of the selected homes have a security system?
What is a normal distribution? What is a Z-Value? Can you provide and example of how they relate?
A stockbroker at Critical Securities reported that the mean rate of return on a sample of 10 oil stocks was 12.6 percent with a standard deviation of 3.9 percent. The mean rate of return on a sample of 8 utility stocks was 10.9 percent with a stan..
A test consists of multiple-choice questions, each having four possible answers (a,b,c,d) one of which is correct. Assuming that you guess the answers to six such questions.
Define the decision rule. Calculate the value of the test statistic.
A student is taking a multiple choice exam in which each question has four choices . Assume that the student has knowledge of a correct answer to any of the questions.
You are the manager of a softball league in the locality in which there are 5 local teams with 10 people each. The league has been arranged for parity so that each local team has 5 good players and 5 bad players.
A study by Hewitt Associates showed that 79% of companies offer employees flexible scheduling. Suppose a researcher believes that in accounting firms this figure is lower.
How do you know if a value is a solution for an inequality? How is this different from determining if a value is a solution to an equation?
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