Mean amount spent by a family
The mean amount spent by a family of four on food per month is $700 with a standard deviation of $85. Assuming that the food expenditures are normally distributed, what is the proportion of families of four that spend more than $900 per month?
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Absolute Leasing, Inc. incurred costs of $9,000 in negotiating and closing the lease. There are no uncertainties regarding additionalcosts yet to be incurred and the collectability of the lease payments is reasonably predictable.
Work in Process consisted of two jobs, no. 101 ($20,400) and no. 103 ($14,800). During May, direct materials requisitioned from the storeroom amounted to $96,500.
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A package of twelve Ping-Pong balls contains two defectives. An inspection procedure to check on the quality of the package is to select randomly two Ping-Pong balls for inspection and to reject the entire package if either of the two is defective
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A researcher is interested in studying people's mean age in a certain region. If the population standard deviation is known to be 8 years and 1.5 year of error margin is allowed, find the minimum simple size the researcher needs to use, knowing th
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