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1. Suppose you interview 10 randomly selected workers and ask how many miles they commute to work. You'll compute the sample mean commute distance. Now imagine repeating the survey many, many times, each time recording a different sample mean commute distance. In the long run, a histogram of these sample means represents
A. the bias, if any, which is present in the sampling method.
B. the true population average commute distance.
C. a simple random sample.
D. the sampling distribution of the sample mean.
2. The distribution of actual weights of 8 oz. wedges of cheddar cheese produced at a dairy is Normal with mean 8.1 ounces and standard deviation 0.1 ounces.
Reference: Ref 11-5
If a sample of five of these cheese wedges is selected, the probability that their average weight is less than 8 oz is (Use Table A)
A. 0.0125.
B. 0.1853.
C. 0.4871.
D. 0.9873.
At 95% confidence using the critical value approach, determine if the proportion of females in the company is significantly less than 50%.
Use a 0.05 significance level to test the claim that this sample comes from a population with a married percentage of less than 58.6%.
The probability of Toyota building a new production plant is 70% and the probability of GM building a new one is 50%. The following are the probabilities associated with the countries Toyota would build a new plant:
Joe is being audited by the IRS and must provide an estimate for his investment earnings over the next four years. After a thorough search, Joe can only find the following records.
Assume we have a population of scores with mean (mu) of 200 and standard deviation (sigma) of 10. Assume that the distribution is normal. Provide answers to the following questions:
When is a factorial ANOVA used? Give Example. When is a chi square test appropriate? Give Example. When does linear regression versus multiple regression apply? Give Example.
What is the total expected annual inventory cost at the optimal order quantity? What is the re-order point?
Write down some features of the Normal distribution p.d.f. Curve. (c) 6. What are the parameters of the Normal distribution?
They decide to sample some fast-food restaurants currently operating to estimate the monthly cost of electricity. They want to be 90% confident of their results and want the error of the interval estimate to be no more than $100.
a large industrial firm allows a discount on any invoice that is paid within 30 days. of all invoices 10 receive the
What proportion of kids aged 10-15 years is assumed to follow a normal distribution with a mean of 191 and a standard deviation of 22.4
Which of the following terms describes the overall long-term tendency of a time series?
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