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A prestigious university requires a score of at least 750 on a graduate exam for admission to its MBA program. Suppose the graduate exam is normally distributed with a mean of 500 and a standard deviation of 200. If a test taker is randomly selected, what is the probability he or she scores 750 or better?
Based on the information in part (a), what decision should the director make about the books used for the courses if the goal is to keep the cost below $300?
It is estimated that the competitor will submit a bid for the contract with probability 0.40. What is the probability of getting the deal?
If x is a binomial random variable where n = 100 and p = .1, find the possibility that x is less than or equal to 10 using the normal approximation to the binomial.
To find the necessary sample size to achieve the given level of accuracy of prediction.
Show your work (either your hand calculations or your statistical program output). You can either scan your work and submit it as a low-resolution graphic, type your answers directly into the document, or cut and paste your work into a Word file.
What is the expected number of audits for the 6 randomly selected individuals? What is the standard deviation for the number of audits for the 6 randomly selected individuals?
let Xn be number of people selected until first person with non-blue eyes shows up, and let X be number of people select until first person with different eye color to preceding people shows up. Find out E(Xb), E(Xn) and E(X).
Cite an example of your experience with applying Six Sigma tools for Statistical significance in the workplace. If you do not have an actual example, suggest a situation or context in which the tools would provide valuable quality improvement help..
75% of students live in dormitories. A random sample of 5 students is selected. Using the binomial probability tables, find the probability that none of the students lives in the dormitories?
Describe a business situation that you have had or might face that will benefit from the use of confidence intervals?
Drugstore was the first e-commerce company to offer Internet drugstore retailing. Drugstore.com customers were provided the opportunity to buy health, beauty, personal care, wellness, and pharmaceutical replenishment products over the Internet.
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