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The amounts of money requested on home loan applications at a particular bank follow the normal distribution, with a mean of $80,000 and a standard deviation of $24,000. A loan application is received during the day. By hand:
a. Find the probability that the amount requested amount is $90,000 or more?b. Find the probability that the amount requested is between $75,000 and $90,000?c. How much is requested on the largest three percent of loans?d. How much is requested on the smallest ten percent of the loans?
Duplicate readings, using two separate instruments, were obtained on ten samples. What is the tabular value of the statistic used to determine the significance of the mean difference at the .05 level of probability?
Body mass index is calculated by dividing a persons weight by the square of his or her height; it is a measure of the extent to which the individual is overweight.
If 14 citizens of the neighborhood are chosen. A. Find the probability that exactly 12 of them favor building the police substation.
A group of workers on a manufacturing assembly line type information into a computer. They take a training class on how to use a computer, especially as related to data entry.
What are the four assumptions for the chi-square tests? What are the hypothesis when conducting the chi-square tests for goodness-of-fit?
Discuss the assumptions of this model. Specifically, how does each variable affect demand? How do the variables influence each other? What limitations might this model have? How can it be improved?
In testing the difference between two means from two independent populations, the sample sizes do not have to be equal to be able to use the Z statistic.
Suppose that the probability that a new medication will cause a bad side effect is 0.03. If this medication is given to 150 people, what is the probability that exactly three of them will experience a bad side effect.
A seed distributor claims that 80% of its beet seeds will germinate. How many seeds must be tested for germination in order to estimate p, the true proportion that will germinate, so that the maximum error of the estimate is " = 0:03 with 90% con ..
Find the critical value to test the claim that all ages have purchase rates proportional to their driving rates.
We wish to create this mean value interval for selling price with 95% confidence level. Find out the best point estimate (average) for selling price. Critical t-value(s) associated with 95% confidence level.
In a certain college, 20% of the physics majors belong to ethnic minorities. If 10 students are selected at random from the physics majors, what is the probability that exactly 2 belong to an ethnic minority?
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