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Studies indicate that the price elasticity of demand for potato chips is about 1.0 If a bag of potato chips currently costs $1.00 and the government wants to reduce potato chip consumption by 20 per
Using a two-week moving average, develop forecasts for weeks 6 through 9. b. Using a weighted moving average with weights of 0.40, 0.30, 0.20, and 0.10, develop forecasts for weeks 6 through 9 c. Us
Use the given information to find the p value. Also, use a 0.05 significance level and state the conclusion about the null hypothesis (reject the null hypothesis or fail to reject the null hypothesi
The number of the men who never eat breakfast is at least as large as the number of the women who never eat breakfast:
If one student is chosen randomly, what is the probability that he or she is taking at least one language class? If two students are chosen randomly, what is the probability that at least one of them
Forty percent of the students who enroll in a statistics course go to the statistics laboratory on a regular basis. Past data indicates that 65% of those students who use the lab on a regular basis
A spymaster has a network of 7 operatives whom he pays out of a slush fund containing $20000. For accounting reasons, his service requires him to use up his entire fund and to pay his operatives in
The length of country and western songs is normally distributed and has a mean of 170 seconds and a standard deviation of 25 seconds. Find the probability that a random selection of 36 songs will ha
Suppose that the average number of airline crashes in a country is 1.9 per month.
A 95% confidence interval for the average cholesterol level of all similar patients who have been on the diet for 6 months is
The ABCD football association is considering a Super Ten Football Conference. The top 10 football teams in the country, based on past records, would be members of the Super Ten Conference.
What is the probability that at least one fish will be caught? Find mean and variance of the number of fishes that may be caught.
Using a 0.01 significance level, test the inspectors claim that the company is cheating customers against the null that the mean weight is not less than 500 grams
A statewide real estate agency, Farm Associates, specializes in selling farm property in the state of Nebraska. Its records indicate that the mean selling time of farm property is 90 days.
Provide an example of a situation where you could utilize correlation analysis (calculating the coefficient of correlation) and a situation where you would utilize the regression equation. Your exam
How large of a sample is needed to find the population mean within $250 at 99 percent confidence?
The American Restaurant Association collected information on the number of meals eaten outside the home per week by young married couples. A survey of 100 couples showed the sample mean number of m
The annual commissions earned by sales representatives of Machine Products, Inc. a manufacturer of light machinery, follow the normal probability distribution. The mean yearly amount earned is $40,0
Forty percent of the homes constructed in the Quail Creek area include a security system. Three homes are selected at random: What is the probability that all three of the selected homes have a securi
Compute the arithmetic mean and discuss what the answer in the context of the problem. Compute the standard deviation and discuss what the answers means in the context of the problem
In your own words, describe what a multinomial experiment is. Provide an example of an experiment that is multinomial (not binomial) and explain why this experiment satisfies the definition.
Name three other possible random variables, and explain whether your provided random variables are correlated to the height of a person.
Consider the height of a person as a random variable. Some possible random variables include time a person wakes up in the morning, weight, and IQ. Name three other possible random variables, and ex