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The Statistical Abstract of the United States published by the U.S. Census Bureau reports that the average annual consumption of fresh fruit per person is 99.9 pounds. The standard deviation of fresh fruit consumption is about 30 pounds. Suppose a researcher took a random sample of 38 people and had them keep a record of the fresh fruit they ate for one year.
a. What is the probability that the sample average would be less than 90 pounds?
b. What is the probability that the sample average would be between 98 and 105 pounds?
c. What is the probability that the sample average would be less than 112 pounds?
d. What is the probability that the sample average would be between 93 and 96 pounds?
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In a one shot game, if you promote and your rival promotes, you will earn $7 million and your rival will earn $2 million in profits.
Suppose you and your classmate are assigned a project on which you will earn one combined grade. You each wish to receive a good grade, but you also want to avoid hard work.
A manufacturer makes ball bearings that are supposed to have a mean weight of 30 g. A retailer suspects that the mean weight is actually less than 30 g. The mean weight for a random sample of 16 ball bearings is 29.5 g. with a standard deviation o..
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Find the dollar weighted (simple interest) yield rate and the time weighted yield of the account for this year.
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he two leading United State manufacturers of high performance radial tires must set their advertising strategies for coming year. Each company has two strategies available:
Advanced Micro Devices declared a 10 percent price raise for certain advanced microprocessors, used primarily in video games. The processors will sell for about $1,000 compared to Intel's $950 price.
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