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Question: The standard recommendation for automobile oil changes is once every 3000 miles. A local mechanic is interested in determining whether people who drive more expensive cars are more likely to follow the recommendation. Independent random samples of 45 customers who drive luxury cars and 40 customers who drive compact lower-price cars were selected. The average distance driven between oil changes was 3187 miles for the luxury car owners and 3214 miles for the compact lower-price cars. The sample standard deviations were 42.40 and 50.70 miles for the luxury and compact groups, respectively. Assume that the population distributions of the distances between oil changes have the same standard deviation for the two populations.
a. Construct a 95% confidence interval for the difference in the mean distances between oil changes for all luxury cars and all compact lower-price cars.
b. Using the 1% significance level, can you conclude that the mean distance between oil changes is less for all luxury cars than that for all compact lower-price cars?
The users are then timed in their ability to setup and program the DVD by performing a series of operations. Which statistical analysis technique should be used? What is the null hypothesis? Can the market researcher get an answer? Why or why not?
What is the predicted values of the fund in the period t = 1? What is the predicted value of the fund in the period 3, and period 7?
Create a histogram for these ages.- Create a stem-and-leaf plot for these ages.- Create a dotplot for these ages.- Describe the shape of this dataset.
find the minimum sample size required to estimate a population proportion to within 0.05 with 95
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A test is given to graduates of tw buisness schools A and B. The scores are given out of 100. Test whether the school differ in quality by using Mann- Whitney U- test with a 10% level of significance.
The net profit of an investment is normally distributed with a mean of $10,000 and a standard deviation of $5,000. The probability that the investor's net profit will be between $12,000 and $15,000 is _____________.
At.01 significance level, can we conclude that 30-year mortgage rate for small banks is less than 6%? Evaluate the p-value.
Business Decision Making Project - What is the Business Problem or Opportunity
a mail order company has an 8 success rate. if it mails advertisements to 600 people find the probability of getting
a. If the campaign manager's claim is correct, what is the probability that the sample proportion would be no more than 0.49 for a sample of this size? b. Based on your answer to part (a), speculate on whether the campaign manager's claim might be ..
accounting procedures allow a business to evaluate their inventory at lifo last in fi rst out or fifo first in first
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