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Faced with rising fax costs, a firm issued a guideline that transmissions of 10 pages or more should be sent by 2-day mail instead. Exceptions are allowed, but they want the average to be 10 or below. The firm examined 35 randomly chosen fax transmissions during the next year, yielding a sample mean of 14.44 with a standard deviation of 4.45 pages. (a) At the 0.01 level of significance, is the true mean greater than 10? (b) Use Excel to find the right-tail p-value.
A 15-minute Oil and Lube service claims that their average service time is no more than 15 minutes. A random sample of 35 service times was collected, and the sample mean was found to be 16.2 minutes, with a sample standard deviation of 3.5 minute..
Fit a linear regression model for bp against sodium. Do you think this is a model with a good fit? Why?
The quality control manager for ENTA Inc. must decide whether to accept (a1), further analyze (a2) or reject (a3) a lot of incoming material. Assume the following payoff table is available.
Explain the purpose of the chi-square test for independence. Provide some practical examples where this test might be used in business.
Below are revenue and profit (both in $ billions) for nine large entertainment companies.
Compute fraction of the employees cost between $1,500 and $2,000 per year? Evaluate percent that didn't have any dental expense.
Sixty-four students in an introductory college economics class were asked how many credits they had earned in college, and how certain they were about their choice of major.
Construct a frequency distribution, percentage distribution, and cumulative percentage distribution for average airfares.
Consider a worker-paced line with three process steps, each of which is staffed with one worker. The sequence of the three steps does not matter for the completion of the product.
Supposes that the diameter of bearings are independent normally distributed random variables with mean µB = 1.005cm and variance σ²B = (0.003)² cm² . The diameter of shafts are independent normally distributed random variables having mean µB = 0.9..
Mean score on 10 item test for all students enrolled in a Traditional course was 9.64. A random sample of 41 students in Project Course is given same test
It is estimated that 10 percent of those taking the quantitative methods portion of the CPA examination fail that section. Sixty students are taking the exam on Saturday.
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