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Assume that the average annual salary for a worker in the United States is $31,000 and that the annual salaries for Americans are normally distributed with a standard deviation equal to $7,500. Find the following:
a) What percentage of Americans earn below $20,000?b) What percentage of Americans earn above $45,000?
Probability that the entire batch will be rejected?
Compute a value V that enables us to state, with 90 percent confidence, that population variance (sigma^2) is less than V.
The 46 computer mice inspectors at a particular factory can only inspect 45 mice per hour. Does the company have reason to believe that these inspectors are slower than average at α = 0.10?
A business invests $10,000.00 in a savings account for 2 years, At the beginning of the second year, an additional $3500.00 is invested, At the end of the second year, the account balance is $15,569.75. What is the annual interest rate?
Here are fifty observations on the weight of tea bags. Calculate the Standard Deviation and Variance.
Lauren Moore has sold her business for $500,000 and wants to invest in condominium units ( which she intends to rent) and land ( which she will lease to a farmer).
If Xbar is the sample mean diameter for a random sample of n = 16 rings, where is the sampling distribution of Xbar centered, and what is the standard deviation of the Xbar distribution?
The number of senior citizens (65 and older) in the US in millions n years after 1990 can be estimated using the formula
Suppose a sample of 35 surveys shows a sample mean of 17 minutes. Use = 4 minutes. Is the premium rate justified? Formulate the null and alternative hypotheses for this application.
What is correlation analysis? How can correlation analysis be used in a business decision or examples specifically related to strategy formulation and implementation?
Explain your answer to someone who is familiar with the T test for a single sample, but not with the T test independent means.
a.There is less than 7 beds per house in Compton; Decision in to reject the null hypothesis b. 30 % of Americans go to church on Sundays. Decision is not to reject the null hypothesis
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