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The director of Heating and Oil at Superior Oil Company is concerned about the high cost of home heating oil being offered to their customers for the upcoming Fall season in Philadelphia, PA. The company has no possibility of modifying the oil price under the current economic conditions. He believes that the company should offer a low cost maintenance contract to foster good will. The director decides to survey a sample of the surrounding towns to see what people are paying for similar home maintenance contracts. The telephone sample of 25 homes indicated that the customers are paying X (bar) = $225.4 and s = $25.20 for a yearly contract.
a. Using the 0.01 level of significance, is there evidence that the population mean is above $225?
b. What is your answer in (a) if s = $50 and the 0.10 level of significance is used?
c. What is your answer in (a) if X (bar) = $279.00 and s = $20.20?
A study of vehicle flow characteristics on acceleration lanes found that one out of every six vehicles uses less than 1/3 of the acceleration lane before merging into the traffic.
Sources and Uses of Cash. State how each of the following events would affect the firm's balance sheet. State whether each change is a source or use of cash.
In its third year, a football team averaged 16,050 fans per game, with a standard deviation of 2,500 fans. What is the probability that the number of fans at any given game was greater than 20,000?
One use of the Chi-square goodness of fit test is to determine if specified multinominal probabilities in the null hypothesis is correct.
University officials at a major university would like to use three -term moving averages to examine enrollment. Enrollment data (in thousands of students) for the 12 most recent terms are shown in middle column of the table below.
Assume that female students' heights are normally distributed with a mean given by µ = 67.2 in. and a standard deviation given by σ = 3.6 in.
The population mean of a company's racing bicycles is 9.07 kg (20.0 lb) with a population standard deviation of 0.40 kg. If the distribution is approximately normal
How do question content and wording, response strategy, and preliminary analysis planning affect question construction?
If a woman purchases Super Cola, what is the probability that it is a diet soda?
Why do the critical values from the Chi-square distribution get larger as the degrees of freedom get larger? Recall that this is opposite the pattern for the t-table.
Establish a 99% confidence interval for the difference in the proportion of suburban and urban housewives who own IPod.
If they must form an ethics subcommittee of 4 members, how many different subcommittees are possible?
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