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Statistics for Decision Making
1. What is the formula for the Expected Value E(X) for ANY Probability Distribution.
2. What is the formula for the Expected Value E(X) of a Binomial Distribution?
3. What are the formulas to find the Standard Deviation and Variance for a Binomial Distribution?
a major retail clothing store is interested in estimating the difference in mean monthly purchases by customers who use
a parcel service randomly selected 48 packages it received. the sample has a mean weight of 18.6 pounds. assume that
a purchaser of electrical components buys several lots where each lot comes in a bundle of 6 distinct components. it is
The number of newspapers sold daily at a kiosk is normally distributed with a mean of 300 and a standard deviation of 30. Calculate the probability that less than 250 newspapers are sold on a particular day.
Create the 95% confidence interval for proportion of adults from Country A who say human activity contributes to global warming.
What percentage of the college freshmen would be considered physically ?t if we consider only this part of the test?
One flight daily to a certain destination. The following information shows the probability distribution of late arrivals for that flight in the past month:
Getting ready for a re-test for Applied Managerial Statistics and will need some assistance. It is 24 questions and I have 3 hours once I access it. This should be an advanced question.
Team Sports, Inc. sells sporting goods to high schools and colleges via a nationally distributed catalog. Management at Team Sports estimates they will sell 2,000 Wilson Model A2000 catcher's mitts next year.
1. a new company came out with a new battery that promised that it would last for more than 8 hours with the standard
To find the expected frequencies, think about the chance of being correct or incorrect when there are three possible outcomes. Analyze the data with x2 and write a conclusion.
In a standard test for reaction time, female candidates for flight school are found to have times that are normally distributed with a mean of 0.65 seconds and a standard deviation of 0.15 seconds.
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