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A study was conducted to investigate the relationship between the cost, y (in tens of thousands of dollars), per unit of equipment manufactured and the number of units produced per run, x. The resulting equation for the line of best fit is given below, with x being observed for values between 10 and 200. If a production run was scheduled to produce 80 units, what would you predict the cost per unit to be in dollars?
= 7.56 - 0.01x $
Suppose you are traveling on business to a foreign country for the first time. You do not have a bus schedule or a watch with you. However, you have been told that buses stop in front of your hotel every 20 minutes throughout the day. If you show ..
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The student body of a large university comprises 60% female students. Elucidate what is the probability that the students in the sample exactly two are female?
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You're operating a business in very competitive market. You're not yet the dominant player, but you have invested heavily in marketing and product development and it has paid off with a steady growth rate of 10%.
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For one of the first statistics exam, the coefficient of determination between hours studied and the grade earned was 80 percent. The standard error of estimate was 10.
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