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A chain coffee shop owner buys a new espresso machine and wants to determine whether this new machine is generating any profits. To test the profitability of the machine, the owner collects data on the profit made (in thousands of dollars) from 16 randomly selected stores and finds that the sample mean and sample standard deviation are $100 and $200, respectively. If the profit level is normally distributed
a. State the null and alternative hypothesis.
b. Test the hypotheses using a standardized test statistic at 1% significance level.
c. Explain the results you find.
Social power in the classroom. Witt and Schrodt (2006) tested the relationship between nonverbal immediacy.
In a BMT class test the scores of 8 students are: 11; 10; 6; 3; 11; 10; 9; 11. Assume the sores are a simple random sample from a normally distributed population. What is the point estimate of the standard deviation?
If an executive submits an expense of $720 for a one-day stay in Moscow, should this expense be considered unusually high? Why or why not?
When the Environmental Protection Agency (EPA) checks a car like mine to predict its fuel economy, what parameter is it trying to estimate?
Run a simple linear regression of these five pairs of numbers and estimate a linear relationship between income and percentage growth in wealth.
if you take the within groups sum of squares and divide it by the between groups degrees of freedom you getthe mean
Find a 90% confidence interval for the success rate at this clinic.- Interpret your interval in this context.- Explain what 90% confidence means.
What's wrong? In each of the following scenarios, there is something wrong. Describe what is wrong and give a reason for your answer.
When considering the comfort and safety of the passenger which result is more relevant . the result from (a) or the probability from part (B) ? Pls explain why
the probability that a 52-year-old white male will live another year is .99386. what premium would an insurance company
New credit card machines use two receipts, to be signed by the payer. This has recently caused confusion as many customers forget to sign the copy.
Describe and perform the five-step hypothesis test process: set up the hypothesis, select a level of significance, establish the decision rule, calculate the test statistic, and draw conclusion.
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