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The director of Heating and Oil at Mitchell Brothers Company is concerned about the high cost of home heating oil being offered to their customers for the upcoming Fall season in Boston, MA. 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 20 homes indicated that the customers are paying X (bar) = $165.4 and s = $22.20 for a yearly contract.
a. Using the 0.05 level of significance, is there evidence that the population mean is above $170?
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) = $179.00 and s = $20.20?
Explain the relationship between sample size and the likelihood of a statistically significant difference between the measured values of two groups.
If Weight 1 is the weight (in pounds) of a random sample of five men who were accepted as models, and Weight 2 is the weight (in pounds) of a random sample of five men who were rejected as models, which of the following is the appropriate inferenc..
It is suspected that the mean turnover has changed and is not 6.0. Use the .05 significance level. State the null hypothesis and the alternate hypothesis.
Can you conclude that the information in the article is untrue? Use the 0.05 significance level. Determine the p-value and explain its meaning.
On average, how long does patient stay in ER? On average, how long does Potential Admit stay in ER? On average, how many patients are in the ER?
Environmental Protection Agency (EPA) fuel economy estimates for automobile models tested recently predicted a mean of 24.80 mpg and a standard deviation of 6.2mpg for highway driving. Assume that a normal model can be applied.
Using the data file below, construct a histogram and a frequency polygon. Describe the shape of this distribution.
Consider following data on exam scores of 10 randomly selected students: Compute 3rd quartile of the exam scores.
One advantage of the repeated measures ANOVA is that it eliminates "individual differences" as a source of variability. Explain why there are no individual differences in the numerator and in the denominator of the F ratio.
Suppose U is a Unit (25, 50) random variable.Find the CDF of U and sketch a graph.
Assume if random samples of size n = 9 are selected can we say anything about the distribution of sample means.
According to the Scranton Edison Company, utility-plant investment per employee was approximately $453,300; $492,400; $498,900; $531,900; $553,900;
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