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1. An experiment is conducted to determine whether a new computer program will speed up the processing of credit card billing at a large bank. The mean time to process billing using the present program is 12.3 min. with a standard deviation of 3.5 min. The new program is tested with 100 billings and yielded a sample mean of 10.9 min. Assuming the standard deviation of times in the new program is the same as the old, does the new program significantly reduce the time of processing? Use α = 0.05.
2. Another bank is experimenting with programs to direct bill companies for commercial loans. They are particularly interested in the number of errors of a billing program. To examine a particular program, a simulation of 1000 typical loans is run through the program. The simulation yielded a mean of 4.6 errors with a standard deviation of 0.5. Construct a 95% confidence interval on the true mean error rate.
Assume the population variances are not equal and the populations are normally distributed.
(a) Use the least squares regression to calculate the trendline equation for advertising expenditure in the financial services sector. (b) Predict the level of advertising expenditure for the sector for 2012. (c) Use Excel to plot a line graph of a..
The ANOVA table is given below,as well as a table of means and standard deviations for the three groups. Evaluate the t statistic for testing contrast
Of the 1,4000 homemakers sampled, 420 were able to identify the brand by name. Compute the standard error of the proportion.
Standard deviation 0.3 ton. What is the probability that a fully loaded truck of this model is (a) less than 6 tons, (b) more than 7 tons, (c) between 6 and 7 tons?
Conduct a hypothesis test to determine if the population percents are the same for the two states or if the percent for Nevada is statistically higher.
in the pharmaceutical industry quality engineers are responsible for maintaining the quality of drug products produced
what are some of the sources where we can obtain partial probabilities of events for a certain investment problems
Effectiveness White flies are devastating California crops. An area infested with white flies is to be sprayed with a chemical which is known to be 98% effective for each application.
What is the probability that the sample mean would differ from the true mean by less than 1.1 dollars if a sample of 385-gallon pails is randomly selected?
Director Smith wants to raise standards for admission. She would like to automatically reject students who fall within the bottom 75% of a national exam. The exam is normally distributed with a mean of 1000 and a standard deviation of 100. What sh..
Complete the following ANOVA table with sum of squares, degrees of freedom, and mean square (Show all work):
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