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According to a study by Decision Analyst, 21% of the people who have credit cards are very close to the total limit on the card(s). Suppose a random sample of 600 credit card users is taken. What is the probability that more than 150 credit card users are very close to the total limit on their card(s)?
When is a factorial ANOVA used? Give Example. When is a chi square test appropriate? Give Example. When does linear regression versus multiple regression apply? Give Example.
Credit card companies use a scoring model to determine the credit worthiness of a prospective card holder. Factors such as income, employment, home ownership, and credit history determine one's score.
Not take SRS of 25 students who took test. What are the mean and standard deviation of sample mean score xbar of these 25 students?
Assume the likelihood that any flight on Northwest Airlines arrives within 15 minutes of the scheduled time is 0.90. We choose four flights from yesterday for study.
Assume a very large normally distributed population of scores on a test with mean 77 and standard deviation 7.
Identify the formal hypothesis testing process. Perform a hypothesis test of one proportion.
A doctor believes that the standard deviation of systolic blood pressure is 450. A random sample of 24 patients found a standard deviation of 520. Assume the variable is normally distributed and a = 0.01. What are the critical values?
A group of department store buyers viewed a new line of dresses and gave their opinions of them. The results are below: Because the largest number (47) indicated the new line is outstanding, the head designer thinks that this is a mandate to go in..
Quality control studies for Leaky Jet Computer Printers show the lifetime of the printer follows a normal distribution with a mean of 4.5 years and a standard deviation of 0.85 years.
Examine the relationship between final grade and the reported hours per week each student said they studied for the course. Do we have evidence that females are being discriminated against?
Given the variances of the two samples below, find the test value and the degrees of freedom that should be used in an F test.
You would like to take an advantage of the higher yield investment but have only $500 available. What is the maximum rate of return that you would pay to borrow the $200 need to take advantage of the high yield investment?
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