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Suppose a sample of n = 25 items is selected from a population of manufactured products and the weight, X, of each item is recorded. Prior experience has shown that the weight has a probability distribution with μ= 6 ounces and σ = 2.5 ounces. What is the standard error of the mean?
Calculate the probability of this event occurring. What will you tell the president of your company concerning the return rate?
Assuming the group with the larger values is normally distributed, use your calculated mean and standard deviation to estimate the proportion of days that have more than 15,300 visits. Write a paragraph describing this set of data and the conclu..
The stock pays an annual dividend of $0.6 per share. Today, you sold all of your shares for $30 per share. What is your total dollar return on this investment?
if we are testing the difference between the means of two normally distributed populations with samples of n1 10 n2
Marriage. Suppose that men always married women 4 years younger than themselves. Draw a scatterplot of the ages of 6 married couples, with the husband's age.
How much time and energy do you invest in making sure you aren't guilty of the fundamental attribution error or the self-serving bias?
Identify the dependent variable for this study and what scale of measurement (nominal, ordinal, interval, or ratio) is used to measure the dependent variable?
Firm. You've been hired as an economic consultant by an unprofitable price-taking firm that produces baseball caps. The firm already has a factory, so it is operating in the short run.
What is the upper bound of the 95% confidence interval for the mean price for all phone types?
Find the mean and standard deviation for the number of left-handed students in such classes of 25 students.
Suppose that a sample of size 69 is drawn from a population with mean 95 and standard deviation 65 . Find the value of , the mean of the distribution of sample
Analysis of variance (ANOVA) is a statistic used instead of conducting multiple t tests.
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