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Susan Williams has been the production manager of Medical Suppliers, Inc., for the past 17 years. Medical Suppliers, Inc., is a producer of bandages and arm slings. During the past 5 years, the demand for No-Stick bandages has been fairly constant. On the average, sales have been about 87,000 packages of No-Stick. Susan has reason to believe that the distribution of No-Stick follows a normal curve, with a standard deviation of 4,000 packages. What is the probability that sales will be less than 81,000 packages?
Do you think that all random samples taken from the same population will lead to the same result?
Convert each of the following z intervals to raw score x intervals:
A pair of dice is rolled. What is the probability of each of the following? (Round your answers to three decimal places.)
Suppose Abraham Lincoln had answered a survey questionnaire in which he indicated that he had not received a grade school diploma. The researcher found that Lincoln's educational score did not correlate with the expected variables. What was wrong?
What is the probability that only the first child will have cystic fibrosis? What is the probability that they will have 2 normal sons and 1 daughter with cystic fibrosis?
What are the two ways of testing a correlation coefficient for significance?
Describe a study you might design that could use the Chi Square statistic. What are the variables? What are the null and alternative hypotheses? Why would the Chi Square test be appropriate for this design?
Suppose the population standard deviation is a=25. (The a is actually the funny looking 0 with the line that goes from the top right up at an angle) Compute the standard error of the mean
Construct a payoff table for Mountain Ski's decision problem of how many pairs of skis to order. What is the best decision from an expected value basis?
Based on the custom "rule-of-thumb" for estimating the standard deviation, if the range of prices for a product sold in Kansas City is between $99 and $349, an estimate of the standard deviation of the prices would be about:
Find the range, standard deviation, and variance for the scores.
Critique the HR manager's planned approach and give him advice on how to proceed. You can assume that a reasonable estimate for the proportion of new hires that are happy with the company is .8.
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