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Bjork Larsen was trying to decide whether to use a new racing wax for cross-country skis. He decided that the wax would be worth the price if he could average less than 55 seconds on a course he knew well, so he planned to test the wax by racing on the course 8 times.
a) Suppose that he eventually decides not to buy the wax, but it really would lower his average time to below 55 seconds. What kind of error would he have made?
b) His 8 race times were 56.3, 65.9, 50.5, 52.4, 46.5, 57.8, 52.2, and 43.2 seconds. Should he buy the wax? Explain.
The same article reported the mean size was more than 2,100 square feet. Can we conclude that the mean size of homes sold in the Goodyear, AZ, area is more than 2,100 square feet? Use the .01 significance level. What is the p-value?
a second-stage smog alert has been called in a large city with 48 industrial firms. an inspector will visit 10 of these
Mixtures. Here is an artificial situation that illustrates an unusual control chart pattern. Invoices are processed and paid by two clerks, one very experienced and the other newly hired. The experienced clerk processes invoices quickly.
a researcher is studying the relationship between earnings for major electronic firms and research and development
suppose that a random variable x has the probability distributionfxx 0 if x lt 0x214 if 0 greaterthanorequalto x lt
the chief loan officer of la crosse home mortgage company summarized the housing loans extended by the company in 2014
Determine the least square trend equation. Estimate the number of employees in 2008. By how much the number of employees decreases (or increases) per year on the average?
Consider a large population with a mean of 170 and standard deviation of 25. A random sample of size 36 is taken from the population. Calculate the standard error of the sampling distribution of this sample mean and round your answer to the hundre..
The columns represent length of customer loyalty (in years) at a primary supermarket. The rows represent regions of the United States. What is the probability that a customer chosen at random has been loyal 10 to 14 years?
Think about a real life situation that follows a linear equation, with the independent variable being years. What would the slope tell you about future years?
The employee manager of a large company would like to estimate the proportion of full-time employees who prefer adopting plan A of two available health care plans in the forthcoming annual enrollment period.
2. You should provide 1) question number (that you missed), 2) your answer, 3) correct answer, 4) explanation about why you missed the question and how to get to the correct answer.
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