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1. Suppose the salary of assembly line workers has Normal distribution with mean of $20,000, and standard deviation of $3,000.
a) What is the probability that a randomly selected assembly line worker earns more than $22,000?
b) What is the probability that the average salary of 5 assembly line workers is higher than $22,000?
c) What is the probability that the average salary of 15 assembly line workers is higher than $22,000?
the amount of unused sick time for individual employees is uniformly distributed between 0 and 480 minutes. Based on this information, what is the probability that an employee will have less than 20 minutes of unused sick time?
Criterion of realism or Hurwitz. Assume that the payoff from an investment depends on market conditions. Illustrate what is the criterion of realism value.
A grocery store manager discovers that on any given weekend 70% of the customers sales amount to more than $100. What is the probability that the first 2 sales will be over $100?
Drug testing of job applicants - In 1990, 5.8% of job applicants who were tested for drugs failed the test. At the 0.01 significance level, test the claim that the failure rate is now lower if a simple random sample of 1520 current job applicants ..
What is the value of the slope of the least squares regression line for these data? Round your answer to at least four decimal places.
Construct the probability distribution for the value of a 2-card hand dealt from a standard deck of 52 cards (all face cards have a value of 10 and an ace has a value of 11).
How many boxes must the processor sample to be 95 percent confident that the sample mean does not differ from the population mean by more than 0.2 pounds?
Distributed with a mean of 8 minutes. What is the probability that it will take a worker between four and nine minutes to complete the task?
The following data represents the running time of films produced by 2 motion picture companies. Assume these are independent samples
There are four auto body shops in a community and all claim to promptly serve customers. To check if there is any difference in service customers are randomly selected from each repair shop and their waiting times in days are recorded.
When a researcher has two samples with two means, one of the assumptions for two samples is independence of between the two samples. What does this mean? What happens if the independence assumption is violated?
Test whether the mean weight is greater than 16 ounces with P-value approach.
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