1. The agriculture investment company wants to estimate the mean retail value of lemons. A random sample of 200 stores indicates a mean value of 0.3 AZN with a standard deviation of 0.05 AZN. Assuming a normal distribution, construct a 99% confidence interval estimate for the mean value of lemons on sale
2. The waiting time data (in minutes) in a bank, collected from a sample of 6 customers during the noon-fpm interval is listed below.
5.05 4.80 8.01 8.35 5.70 4.08
Compute the following:
a) The mean, median, mode
b) Range, IQR, variance, standard deviation and coefficient of variation
c) Z scores
3. A sample of 500 purchasing managers was selected to determine information concerning buying behavior. Among the questions asked was "Do you enjoy your role in the organization?" Of 240 males, 136 answered yes. Of 260 females, 224 answered yes. Construct a contingency table to evaluate the probabilities. What is the probability that a respondent chosen at random
a) Enjoys his or her role in the organization?
b) Is a female and enjoys her role in the organization?
c) Is a female or enjoys her role in the organization?
d) Is a male or female?
4. The probability of birth for a girl is 51%. If a family has four children what is the probability that
a) All four are girls?
b) None of them is a girl?
c) At least two of four are boys?