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The mean amount purchased by a typical customer at Churchill's grocery Store is $23.50 with a standard deviation of $5.00. Assume the distribution of amounts purchased follows the normal distribution. For a sample of 50 customers, answer the following questions:
a. What is the likelihood or the probability the sample mean is at least $24.8?
b. Within what limits will 92 percent of the sample means occur?
What are some reasons why sampling may not be a essential method for research studies?
Average Precipitation For the first 7 months of the year, the average precipitation in Toledo, Ohio, is 19.32 inches. If the average precipitation is normally distributed with a standard deviation of 2.44 inches, find these probabilities.
The total dimensions of a single storey condominium, which a value of $1,000,000, are 39 feet by 59 feet.
Form a Markov chain with states the number of sites occupied. Modify the program FixedVector to compute the fixed vector. Use this to check your conjecture by simulation.
Crime rate and population. Research by law enforcement agencies has shown that the crime rate is correlated with the U.S. population. Would you expect the correlation to be positive or negative? Explain.
Pretend that you are a Finance person in a large dynamic company. Your dream is to become CFO someday, so you want to make good financial decisions.
The ACT is an exam used by colleges and universities to evaluate undergraduate applicants. The test scores are normally distributed. In a recent year, the mean test score was 21.1 and the standard deviation was 5.0.
Assuming the ball selection is without replacement. What is the probability that the first ball is white and the second ball is red?
What is the best point estimate of the proportion of medical malpractice suits that were dropped or dismissed?
A textile manufacturer estimates that it produces bolts of cloth with flaws following a Poisson distribution that has an average of one flaw per 200 feet of cloth.
How large would an SRS of American adults need to be in order for it to be safe to assume that the sampling distribution of X is approximately Normal?
Among the following expressions, which is/are equal to the price of the stock after these two months?
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