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Question: Retailers of collectible postage stamps often buy their stamps in large quantities by weight at auctions. The prices the retailers are willing to pay depend on how old the postage stamps are. Many collectible postage stamps at auctions are described by the proportions of stamps issued at various periods in the past. Generally the older the stamps the higher the value. At one particular auction, a lot of collectible stamps is advertised to have the age distribution given in the table provided. A retail buyer took a sample of 73 stamps from the lot and sorted them by age. The results are given in the table provided. Test, at the 5% level of significance, whether there is sufficient evidence in the data to conclude that the age distribution of the lot is different from what was claimed by the seller.
Let z represent the standard normal variable and suppose a value is randomly selected. Find each of the following probabilities by:
Call the shots An advertisement for an upcoming TV show asked: "Should handgun control be tougher? You call the shots in a special call-in poll tonight.
A random sample of 4000 U.S. citizens yielded 2190 who are in favor of gun control legislation. Find the point estimate for estimating the proportion of all Americans who are in favor of gun control legislation.
Construct a control chart that the company can use for monitoring the quality characteristic selected. What is the effect of the newly designed purchase order form? Is the company capable of achieving the desired goal?
Suppose that you want to know the opinions of American secondary school teachers about establishing a national test for high school graduation.
Researchers for an online market- ing company suggest that new customers who have to become a member before they can check out on the website are very intolerant of long applications. One way to rate an application is by the total number of keystr..
In determining the necessary sample size in making an interval estimate for a population mean, it is necessary to first make an estimate of the population standard deviation. On what bases might such an estimate be made?
A college accepted 512 of the 1,600 applicants one year, and 520 of the 1,300 applicants the next year. Can we conclude that the admissions rate was higher the second year than the first year?
Computer simulation of 10,000 pairs of points gave mean distance 0.5197, and mean square distance 0.3310. use these results to find an approximate.
A customer wants delivery to be ensured between 10 am and 2 pm. Your truck leaves the factory at 4 am and time taken to reach the customer is normally distributed with an average of 8 hrs and a standard deviation of 1 hr.
a journal article reports that a sample of size 5 was used as a basis for calculating a 95 ci for the true average
life time of flowers in a bouquet is normally distributed with a mean of 6 days and a standard deviation of 1.7 days.a.
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