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The company SlimDown makes weight loss products. It has recently come out with a new skin cream that, when rubbed behind the ears, is thought to cause the user to lose weight. To test the cream, a random sample of 58 people was chosen, and the percentage weight loss over an eight week period recorded. Find the power of the test to determine if the the new cream is effective, when the mean percent weight reduction is actually 0.6%. Assume that the population standard deviation is 9% and that the significance level is α=0.06.
Assume that you choose a 50 families sample. Which is the form expected from the distribution of the average or median of the sample?
The mean salary for engineers with less than 5 years' experience is $60,000 with a standard deviation of $5,000. Compute the z values for both 1)Rob and 2)Rachel.
Over the 48 years from 1950 through 1997, the stock market has gone up in the month of January for 31 times; it has gone up for the whole year for 36 times, and it has gone up both for the year and in January for 29 times.
Critically discuss how you can apply the concept and method of interval estimation to help you solve some of the problems in a regularly accounting department. Give a few examples.
Identify the population and the sample: A survey of 787 small-business managers found that 72% are optimistic about the future of their company.
A comparison between products manufactured in China VS Mexico and their perceived quality to the US consumer based on manufacturing location.
An experimental study is designed to test the potency of a drug on 16 calves. Previous studies have shown that a 10-mg dose of the drug is lethal 7% of the time within the first 7 hours.
From a practical point of view, what is the difference between the frequency distribution and relative frequency distribution? Why is a cumulative relative frequency distribution so much more informative that just the relative frequency distributi..
What is the probability of a fatal accident over a lifetime? Explain your reasoning carefully. Hint: Assume independent events. Why might the assumption of independence be violated?
If we assume a normal distribution of Diastolic blood pressures, then between what two values can we be assured 99.7% of all Diastolic blood pressures will lie?
Erthromyacine is a drug that has been related with side effects during pregnancy. Assume that 30% of women experience side effects between the 24th and 28th week of pregnancy.
The foreman at a large plant estimates defective parts about 1.5% of the time. If the plant produces 25,000 parts in a week, what is the standard deviation (to the nearest tenth) for the number of defective parts?
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