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Lauren plans to deposit $3000 into a bank account at the beginning of next month and $225/month into the same account at the end of that month and at the end of each subsequent month for the next 3
Does the temperature at which the readings are taken appear to affect the mean reading of the concentration? Explain. Be ready to defend your choice of a test statistic.
Jann knows that the average house hold has 2.4 children with a variance of 2.11. Her friend Elaine has 5 children. Jann thinks that Elaine has more children that the average house hold. What are the
You decide to take a sample and dtermine a 90% confidence interval for the mean cost, and you want your estimate to be accurate to within $500. What is the minimum size necessary to construct this c
Car manufacturers are concerned about meeting new government regulations on fuel efficiency. Audi knows that their average mile per gallon (mpg 16-38) of their entire line of automobiles in 2000 was
When dragons on planet Pern lay eggs, the eggs are either green or yellow. The biologists have observed over the years that 28% of the eggs are yellow, and the rest green. Next spring the lead scien
About 3% of the population has a particular genetic mutation. 500 people are randomly selected. Find the mean for the number of people with the genetic mutation in such groups of 500.
Can this company be accused of paying substandard wages (wages significantly below the average)? Run an appropriate hypothesis test and compute the level of significance.
The application of a quadratic model for the revenue generated by manufacture and sale of a digital camera, seems to indicate that revenue generated through the sale of a single product cannot grow
To update this study, the files of how many public accountants should be studied? How many public accountants should be contacted if no previous estimates of the population proportion are available?
Assume that 67% ofthe cars on a particular freeway are traveling faster than70 miles per hour. Arandom sample of 15 cars was observed under normaldriving conditions with nopolice car in sight. What
Also report how much Classroom Central will receive as a donation. Explain each reported amount fully in case your club is audited, so you can account for every penny.
The weights of cats at a shelter are normally distributed with a mean of 11 lbs. and a standard deviation of 12. If 16 cats are randomly selected, what is the probability that the mean weight will b
You take a trip by air that involves three independent flights. If there is an 82 percent chance each specific leg of the trip is done on time, what is the probability all three flights arrive on ti
Suppose that the service rates at the three stands are large enough so that a stationary distribution exists. At what rate do the three stands make sales. To check your answer note that since each e
A computer repair service found that a random sample of 45 repair costs had a mean cost of $659. Assume that the population standard deviation is $125. Calculate the margin of error, E, for a 95% co
A motor bike battery manufacturer found that the life of their batteries is normally distributed with a mean life span of 8700 hours and a standard deviation of 400 hours. If a battery is selected
Assume that IQ scores are normally distributed with a mean of 100 and a standard deviation of 15. If a sample of 70 people are selected, find the probability that the mean IQ score of the sample is
Today you have $5,120 to invest, and want to have $572,132 in 49 years. What rate of return must you earn in order to meet your target?
What your marginal federal tax rate? (What percent of your next dollar earned is lost via taxes?) Enter answer in percents, accurate to 2 decimal places.
If the bank wants to earn an 8.5% rate of return on its money on average, what interest rate must you quote to Jim on this loan? Assume than in case of default, the bank is on average able to recover
The coefficient of determination, r2, is a PRE measure. What does this mean? True or false: All regression equations reflect causal relationships expressed as linear functions.
Suppose bolts are being manufactured using a process so that it is known that the length of the bolts follows a normal distribution with standard deviation 50 mm. The manufacturer wants to check tha
Find a 95% confidence interval for the true mean score by hand. What sample size would be needed so that the 95% confidence interval for the true mean score has an error of E=2.5?