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Consider the following survival times of a new brand of energy efficient light bulbs (in1000's of hours)::
1.50 1.70 1.34 1.24 1.66 1.84 1.20 1.54 1.68 1.58 1.56 1.68 1.70 1.50 1.34 1.54 1.60 1.72 1.80 1.64 1.62 1.56 1.70 1.88 1.82 1.76 1.56 1.88 1.60 1.62 1.50 1.88 1.48 1.56 1.04 1.70 1.26 1.58 1.34 1.42.
(a) Using the percentile method, calculate the median, first and third quartiles, theinterquartile range, and the low and high fences.
(b) Use the information in (a) to construct a boxplot.
(c) Describe the shape of the boxplot. What does this mean in terms of survivaltimes of the new light bulbs?
(d) Use the percentile method to determine the 33rd and 80th percentiles. Interpretthese percentiles.
Decision trees are used to graphically depict a decision making situation. Propose a business decision in which you intend to use Expected Monetary Value (EMV) as your decision making technique. Describe how you would determine the best decision usin..
Use the information in the table to determine the percentages for each interval. Do the data below show a linear relation, non-linear relation, or no relation at all
Your store has an average of 40 customers per an eight hour shift. You need to know whether you should hire 1, 2, 3 or 4 salespersons. The waiting times is 15 minutes with one salesperson, 12 minutes with two, 10 minutes with three and 6 minute with ..
The management at Superior Health Care System Incorporated recently purchased several new facilities including the central patient information management center. This purchase will have a serious impact on the network and information services depa..
In addition, what are some of the real world cautions related to statistical inference and hypothesis testing that managerial practitioners need to be aware of?
A maker of a certain brand of low fat cereal bars claims that the average saturated fat content is 0.5 grams. To check the claim, a random sample of 9 cereal bars of this brand were drawn, and the sample mean and sample standard deviation was found ..
The weight at birth of males has a mean value of 3.53 kg with a standard deviation of 0.58. What birth weight has a z-score of 0.81? Round to the nearest hundredth as needed.
A random sample frm a population with mean and std dev produced the following sample info: n=110 x=699 s=20.4 given xbar = 699 1. find the 95% confidence interval fr the mean u and interpret the resulting interval. 2. find the 99% confidence interv..
We expect to have a positive relationship between Advertising and Demand.
Suppose x is a random variable with n=3 and p=.3, calculate the value of p(x), x=0,1,2,3, using the formula for a binomial probability distribution?
what portion of variation in stock price percentage change is explained by the percent change in profit and what is the approximate predicted value for tips if the total bill is $100?
Letting m represent the mean waiting time under the new system, set up the null and alternative hypotheses needed if we wish to attempt to provide evidence supporting the claim that m is shorter than six minutes.
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