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A two-lane highway with a posted speed limit of 45 miles per hours is located just outside a small 40 homes subdivision. The residents of the neighborhood are concerned that the speed of cars on the highway is excessive and want an estimate of the population speed of the cars on the highway. Assume the population standard deviation speed of vehicles on the highway is known to be 8 miles per hour, based on past studies. How large a sample is required to estimate the mean speed with a margin of error equal to 2 miles per hour with 90% confidence?
A physician wanted to estimate the mean length of time µ that a patient had to wait to see him after arriving at the office.
The area under the standard normal curve between 0 and 2 is twice the area under area between 0 and 1.
(A) What sums are needed to calculate a correlation coefficient? (B) What are the two ways of testing a correlation coefficient for significance?
A bank's loan officer rates applicants for credit. The ratings can be described by a Normal model with a mean of 200 and a standard deviation of 50.
State the appropriate set of hypothesis to test whether there is a relationship between the variables X and Y.
What's the probability that among three randomly selected high school students
A coin is flipped e times and heads (h) or tails (t) are recorded:
At.01 significance level, can we conclude that 30-year mortgage rate for small banks is less than 6%? Evaluate the p-value.
Write introduction to SPC (STATISTICAL PROCESS CONTROL)? Describe the use of SPC tools used at D2D?
You play a game with two possible outcomes. Outcome A has probability 0.4 and outcome B has probability 0.6. When B occurs you win $2.00; otherwise, you lose $1.00. What is your expected value for this game?
If we know that 20 people will attend, what price should be charged per person to break even?
At 0.01 level of significance, is there evidence that mean price is higher at Whole Foods Market than at Fairyway supermarket? Interpret the meaning of p-value in (i).
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