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The amounts of money requested in home loan applications at ABC Federal Savings are approximately normally distributed with a mean of $70,000 and a standard deviation of $20,000. A loan application is received this morning. What is the probability that:
a. The amount requested is $80,000 or more?
b. The amount requested is between $65,000 and $80,000?
c. The amount requested is between $65,000 or more?
d. Twenty percent of the loans are larger than what amount?
An old saying in golf is "you drive for show and you putt for dough." The point is that good putting is more important than long driving for shooting low scores and hence winning money.
More than 13 successes in 19 trials with a 40 percent chance of success. (Round the answer to 4 decimal places.) Fewer than 7 successes in 15 trials with a 40 percent chance of success. (Round the answer to 4 decimal places.)
What is the probability of flipping a coin 6 times and getting 4 or more heads?
What is your conclusion? Are the two variables independent?
Why is it misleading to draw the conclusion from the test above that long-time exposure to cadmium reduces the vital capacity?
Compute Pearson's correlation coefficient between age and amount spent on this particular product.
Describe the factors that might cause variation in weight of Tootsie Rolls during manufacture.
A range of values constructed from sample data so that the parameter occurs within that range at a specified probability is:
What is the best prediction for the number of products sold based on advertising costs of $7000?
What kind of probability uses sample spaces to find out numerical probability that event will happen?
Suppose the probability of a boy being born is the same as the probability of a girl being born. Find the probability that a family with three children will have two boys and one girl.
The calculated Z test statistic is a positive value that leads to a p-value of .045 for the test. If the significance level (α) is .01, the null hypothesis would be rejected.
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