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The amount of income spent on housing is an important component of the cost of living. The total costs of housing for homeowners might include mortgage payments, property taxes and utility costs (water, heat and electricity). An economist selected a sample of 20 homeowners in New England and then calculated these total housing costs as a percent of monthly income, five years ago and now. The information is reported below. Is it reasonable to conclude the percent is less now than five years ago.
Homeowner Five Years ago Now
1 17 10
2 20 39
3 29 37
4 43 27
5 36 12
6 43 41
7 45 24
8 19 26
9 49 28
10 49 26
11 35 32
12 16 32
13 23 21
14 33 12
15 44 40
16 44 42
17 28 22
18 29 19
19 39 35
The probability that a house in an urban area will be burglarized is 5%. If 50 houses are randomly selected, what is the probability that one of the houses will be burglarized?
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Can the president conclude that the average family income at his school is significantly different than the population mean family income of the reported university?
With the test statistic you chose, work out the problem with solution using .05 level of significance if it applies.
Use the expected collision payment to determine the collision insurance premium that would enable the company to break even on the policy.
A researcher desires to estimate the difference in means of two populations. To accomplish this, she takes a random sample of 81 items from the first population.
Describe the steps for testing a hypothesis that people are more likely to keep watching a movie if they have already invested money to obtain the movie.
Using the .10 level of significance, can we conclude that the assembly time using the new method is faster?
Scientific poll based on 400 hospital patients has just been performed. Determine the probability that at least 70 patients will not be satisfied with after-surgery care?
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