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You have an assembly line which produces 1L bottles of seltzer with a standard deviation of 0.05L.
• Assuming the distribution of volume is normal, what is the chance any single bottle's volume is between 0.85L and 0.95L?
• If you chose 100 bottles at random, what would be the expected average volume of the bottles in your sample? What would the standard deviation of the sample average be? What is the shape of this distribution? Give reasons for your answers.
• If you pulled a sample of 50 bottles, what is the chance that you would find the average volume was greater than 0.99L?
A salesperson visits from house to house to sell her knives. The probability that she makes a sale at a random house is .3. Given that she makes a sale, the sale is worth $100 with
Q. The following system of equations illustrates the algebraic form of a partial (individual) market equilibrium model, which is a model of price (P) and quantity (Q) determination
Year Production 2006 8 2007 6 2008 10 2009 12 2010 11 2011 15 2012 14 2013 16 Determine the trend from data given above?
Measurement of trend , least square method
Steps in ANOVA The three steps which constitute the analysis of variance are as follows: To determine an estimate of the population variance from the variance that exi
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TYPE I AND II Errors If a statistical hypothesis is tested, we may get the following four possible cases: The null hypothesis is true and it is accepted; The
Make a decision about the given claim. Do not use any formal procedures and exact calculation. Use only the rare event rule. Claim: A coin favors head when tossed, and there
Examples of grouped, simple and frequency distribution data
what are characteristics of a population for which it would be appropiate to use mean/median/mode
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