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One of the earliest applications of the Poisson distribution was in analyzing incoming calls to a telephone switchboard. Analysts generally believe that random phone calls are Poisson distributed. Suppose phone calls to a switchboard arrive at an average rate of 2.4 calls per minute. a)If an operator can handle at most five calls per minute, what is the probability that the operator will be unable to handle the calls in any 1-minute period? b)What is the probability that one or fewer calls will arrive in a 15-second interval?
The manager of Petroco service station wants to forecast the demand for unleaded gasoline next month so that the proper number of gallons can be ordered from the distributor.
The sample mean is less than 124 grams then the supermarket returns the entire consignment of biscuits to the producer. What is the probability that a consignment will be returned?
The data in below represent the closing value of the Dow Jones Industrial Average (DJIA) over the 29 year period from 1979 through 2007.
Mean and standard deviation are 584.6 and 34.28
Test the hypothesis that the annual income of teachers in areas of more than 500,000 is significantly more than those in areas of less than 100,000. Use the 5% level of risk.
If represents the true average gas mileage for this new model, which of the following gives the null and alternative hypothesis that the CONSUMER group should test?
Use Chebyshev's theorem to find what percent of the values will fall between 201 and 345 for a data set with a mean of 273 and standard deviation of 18.
In his wardrobe at home, a businessman has 7 suits and 8 ties. From those suits and ties he has on hand, he plans to take 3 of the 7 suits and 2 of the 8 ties with him to a conference in San Francisco.
In an online survey of 4001 respondents, 8% were classified as productivity enhancers who are comfortable with technology and use the internet for its practical value. Suppose you select a sample of 400 students at your school, and the population ..
Describe a where you might want to use a dummy variable in a multiple regression. What would the dummy variable buy you in that situation?
Give an example of a single polynomial with degree 3, whose value is 4 when the variable is equal to 1. Give an example of a single polynomial with degree 3, whose value is 29 when the variable is equal to 2.
define externalities in consumption and production of goods and services. why do they occur? what are examples of
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