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Greenston coffee is experiencing financial problems because of competition. Total sales revenue has dropped by 15% and the company wished to establish a sales monitoring process to identify shops that are under-performing. Historically the daily mean sales for a shop has been $11,500 with a variance of 4,000,000. Their monitoring plan will take a random sample of 5 days sales per month and use the sample mean sales to identify shops that are under-performing. Establish the lower limit sales such that only 5% of the shops would have a sample sales mean below this value.
Find a 96% confidence interval for the true percentage of all households that have central air conditioning. Write a sentence that interprets this interval.
What factors might cause the company to order a larger or smaller amount than the EOQ?
A professor is targeting a score of 80 on an exam. His forty-nine students averaged 78 on an exam with s = 7. Are the scores significantly less than 80 at a significance level of 0.05? Show your work and state the conclusion.
A multiple choice test has three questions with 5 possible answers (and oly one right answer each). You decide to randomly guess the right answer.
The probability distribution for the possible results of an experiment is given, Determine the mean of the distribution.
A study of elephants is conducted to determine the average weight of a certain subspecies of elephants. The standard deviation for the population is 500 pounds.
Determine the coefficient of correlation between the two variables. Interpret the value.
Construct a 90% confidence interval to estimate the difference of (average number of gallons sold on weekdays - average number of gallons sold on weekends). Assume the population standard deviations are the same for both weekdays and weekends.
Ed Norris has developed a Web site for his used textbook business at State University. To sell advertising he needs to forecast the number of site visits he expects in the future. For the last 6 months he has had the following number of site visit..
Examine the behaviour of 99% critical values for these degrees of freedom, and comment on the limits in this case.
At the 0.10 level of significance, is the coin biased toward heads? Show your decision rule and calculations.
What is the probability that a randomly selected fertilized egg hatches in less than 19 days? (Round to four decimal places as needed).
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