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Leo has been learning much about business statistics from Alice. He has asked Alice to test him on his knowledge about Measures of Central Tendency and data variability. Alice begins the test by telling Leo that she has a random sample of room service sales in 20197. The average room service sale in the sample was $65.32. The variance was $625.00.
What is the standard deviation of room service sales in 2019? What was the Coefficent of Variation for those sales? Explain you answers with a mathematical expression. (A "mathematical expression" is something like: 5 x 2 = 10).
What are the important points on which a biostatistic student should pay attention about doing hypothesis testing to avoid confusion.
Suppose that 500 units of a good are demanded at a price of $10 per unit. A reduction in price to $8 results in an increase in quantity demanded to 700 units.
customers arrive at a checkout counter in a department store according to a poisson distribution at an average of
Use the Normal Approximation to the binomial distribution to find the same probability.
Use computer simulation to find the expected value of the payoff. What is the probability that your grand total will be 25 or more points.
Determine the 95% confidence interval for a sample with the following properties: N= 36, Population mean= 112, s= 24?
On the average, each can of paint contains 105 of the chemical, how many cans of paint should the sample contain if the researcher wants to be 98% certain
In a study of the effects of marijuana use during pregnancy, measurements on babies of mothers who used marijuana during pregnancy were compared to measurements on babies of mothers who did not
Using part(a), explain to investor differences between distribution of performance figures for the 2 kinds of stock funds.
What fraction of the variation in salaries can be explained by the fact that some employees have more experience than others?
1. For this problem, carry at least four digits after the decimal in your calculations. Answers may vary slightly due to rounding.
Replacement times for CD players are normally distributed with mean of 7.1 years and a standard deviation of 1.4 years (based on data from "Getting Things Fixed," Consumer Reports). Find the probability that a randomly selected CD player will have..
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