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An investment firm with 10,000 clients would like to accurately forecast the average dollar amount their current customer will deposit over the coming year. They decide to telephone a random selection of 25 of their customers to ask how much they plan to deposit, and they would like to keep this sample as small as possible so the calls do not annoy too many customers. Since they will be multiplying this average by the total number of customers to get an overall forecast, they would like to accurately estimate this average deposit for all 10,000 clients error less than $4,000. Last year the average deposit for all 10,000 clients was $25,000 with a standard deviation of $30,000. Do you think a sample of 25 is enough to give them the margin of error they want? If not, how large a sample do you suggest they need to take? Justify your answer with relevant calculations.
Find a 99% confidence interval estimate of the proportion of people who say that they voted.
Primary healthcare workers believe that anaphylactic shock reaction to immunization injections occurs with children in one case in two thousand.
A new speed limit will be initiated such that approximately 10% of vehicles will be over the speed limit. What is the new speed limit based on this criterion? In what way do you think the actual distribution of speeds differs from a normal distribu..
a) Do a test to see if workers attitudes on this matter have changed using a 90% alpha. b) Explain to management what your findings are and what this suggests about future decisions vs work options.
How large a sample size will need to be selected if we wish to have a 99% confidence interval with a margin for error of .10 oz?
Find the probability that the driver was intoxicated or the pedestrian was not intoxicated?
In Excel, which of the following functions is used to conduct a hypothesis test (using the p -value) for a population variance
If the computed value for this problem is +2.33, and the level of significance is 0.05, can we conclude that the recall proportions for the two commercials are same?
Calculate P value? Calculate critical value?
In a normal distribution of 1,000 aptitude test scores, with a mean of 60 and a standard deviation of 8, how many scores fall:
Suppose you went to the Bureau of Labor Statistics web site and found several predictors of your salary. State three possible predictors and a simulated multilinear regression equation along with their p-values. What does your p-values tell you ab..
Find out sample standard deviation (s) of scores Gordon Golfer made on his last four rounds (determine to the nearest one tenth, or .1).
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