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Customers of a mortgage bank expect to have mortgage applications processed within 35 working days of submission. Given that the processing time at the bank can be modelled by the N (28, 32) distribution, verify that 99% of applications would be processed within 35 working days. Following a successful Six Sigma project aimed at reducing processing time, it was found that, although variability in processing time was unchanged, the mean had dropped to 19 working days. The bank wishes to inform prospective customers that '99 times out 100 we can process your application in q working days'. Assuming that the normal distribution is still an adequate model, calculate q.
The following data from a sample of 100 families show the record of college attendance by fathers and their oldest sons: in 22 families, both father and son attended college; in 31 families, neither father nor son attended college; in 12 families,..
Find the value of k that makes f(x; y) a valid probability distribution.
Suppose that the grams of fat have a normal distribution and form 90%, 95%, and 99% confidence intervals for the mean grams of fat. Based on this data, can we say that the labeling on the package is misleading?
A market research company surveyed consumers to determine their ranked preferences of energy drinks among the brands Monster, Red Bull, and Rockstar.
In a binomial distribution n = 8 and π = 0.2. Determine the probabilities of the following events.
Four properties are randomly selected from each neighborhood and the ratios recorded for each as follows:
Assume that flight times from SAN to ATL are exponentially distributed with a mean of 4.5 hours and a standard deviation of 0.2 hours. Assume that you must fly from SAN to ATL weekly for the lucrative consulting engagement for one year (52 flight..
To obtain the probability that the mean wage of 75 randomly selected workers will exceed $43,000
Test the mean cholesterol content in the egg is greater than 2.5 percent
Using symbols mention null hypothesis and alternative hypothesis.
For what proportion of patients will drug be effective for between 2 and 2.25 hours?
You are looking at two used cars at a dealership. They are both the same year, make, model, color and price. You decide to ask the salesman which is more reliable.
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