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Many retail stores offer their own credit cards. At the time of the credit application the customer is given a 10 percent discount on the purchase. The time required for the credit application process follows a uniform distribution with the times ranging from 4 minutes to 10 minutes.
a. What is the mean time for the application process?
b. What is the standard deviation of the process time?
c. What is the likelihood a particular application will take less than 6 minutes?
d. What is the likelihood an application will take more than 5 minutes?
If gambler rolls two dice and gets sum of four, he wins $10; and if he gets sum of three, he wins $25. Cost to play game is $5. What is expectation of this game?
Using standard normal table, show critical value for left-tailed test with α = 0.02.
Choose a group of 4 adults at random. What is the probability that none of them enjoy drinking beer?
Test whether there is a difference in the mean of times men and women and determine the p-value.
The management of a regional bus line thought its cost of gas might be correlated with its passenger/mile ratio. Comment on the data and correlation matrix below.
Identify the null and alternative hypothesis, test statistics, p-value(or range of P-value), critical value(s), and state the final conclusion that address the original claim.
What is the stock's value at it's highest on 15 days of the year? (Assume that there are 240 trading days in a year).
Using a test, 80% of Down's Sydrome cases can be identified, while 5% of normals are detected as positive. What is the sensitivity and specificity of the test?
Assume that the underlying population variances are equal. a. Are the two samples paired or independent?
From the following information for Alfred Industries compute the overhead spending variance and the volume variance:
Discuss the concept of 'extended family' with Asian and Latino ethnic minorities. Discuss the strengths and weaknesses regarding delivery of social and health services to these groups.
Use the following data to write the normal equations of the linear regression between Y and X, and find the least squares regression.
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