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The American Auto Association reports the mean price per gallon of regular gasoline is $3.10 with a population standard deviation of $0.20. Assume a random sample of 16 gasoline stations is selected and their mean cost for regular gasoline is computed. What is the standard error of the mean in this experiment?
The U.S.Census Bureau announced that the median sales price of new homes sold i April 2009 was $221,660, and the mean sales price waas $274,300. Assume that the standard deviation of the prices is $90,000.
The average cost of a one bedroom apartment in a town is $550 per month. What is the probability of randomly selecting a sample of 50 one bedroom apartments in this town and getting a sample mean of less then $530 if the population standard deviat..
Must the company replace old truck? If so which of new trunks must they use? Describe in detail.
What proportion of sample means would be between 1.31 and 1.33 inches?
Suppose that a random sample of 14 cars shows an average speed of 24.0 mph, with a sample standard deviation of 2.2 mph. Assume that the speeds of cars are normally distributed. Using the T-table, what is the p-value?
The concessions manager at the Clemson vs. USC football game must decide whether to have the vendors sell sun visors or umbrellas. There is a 30% chance of rain
Which component of a time series is most likely to occur? Which component has a pattern that must be complete in a single year and repeat from year to year?
The following problem develop the concept of determining the probability distribution of random variable and its mean and variance.
The following data from a sample of 100 families show the record of college attendance by fathers and their oldest sons: in 22 families, both father and son attended college; in 31 families, neither father nor son attended college; in 12 families,..
A marketing survey is conducting in which students are to taste two different brands of soft drink. Their task is to currently identify the brand tasted.
A point estimate for a parameter is a single number designed to estimate a quantitative parameter of a population, usually the value of the corresponding sample statistic
Determine the mean, median, and mode for data set: 12.75, 18.32, 19.41, 12.75, 18.30, 19.45, 19.33
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