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The time it takes a worker on an assembly line to complete a task is exponentially distributed with a mean of 8 minutes. What is the probability that it will take a worker less than 4 minutes to complete the task (to 4 decimals)?
What is the probability that more than 200 cars will require service work in a particular month?
Need guidance on how to approach a statistics paper. Problem: utilize statistics to solve a business related problem. The synopsis should include a discussion of the specific problem, the research methodology used, the quantitative and qualitative..
Compute a 95% confidence level for the difference in the means of the two treatment methods and select the best answer below. Assume that the independent random samples were taken from normal distribution.
Suppose Abraham Lincoln had answered a survey questionnaire in which he indicated that he had not received a grade school diploma. The researcher found that Lincoln's educational score did not correlate with the expected variables. What was wrong?
Assume salaries are normally distributed with a standard deviation of $4,500. What is the probability of a new graduate receiving a salary between $45,000.
You are investigating the flight characteristics of different kinds of birds. You collect a sample of 33 European swallows (Hirundo rustica) and measure their air-speed velocity in a borrowed wind tunnel.
Given the following number of hours between breakdowns for 4 machines, are the machines significantly different? If so, how are they different? Which machine is the best? Which machine is the worst?
What are the assumptions necessary to use the z-series test? What are the assumptions necessary of use the t-series test?
You have been retained as a consultant to SarParKingsGraUsch. Your job is to determine if this particular overbooking strategy is sound. Use simulation methods to perform your analysis.
Assume that the amount your town's population grows every year is fixed or constant. Utilize your equation in part b to approximate the population in the year 2030.
An investment broker reports that the yearly returns on common stocks are approximately normally distributed with a mean return of 12.4 percent and a standard deviation of 20.6 percent.
Create probability tree showing all marginal, conditional, and joint probabilities. Create a joint probability table.
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