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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?
A Psychologist has developed a new method designed to help people taking an exam. The method requires the person to come to the office of the Psychologist 5 times over a 5 week period and involves h
Test the claim that the babies born to mothers who received moer prenatal care are larger than the babies born to mothers who received less prenatal care. Use alpha= 0.05. State the null and alterna
How large a sample should be surveyed to estimate the true proportion of college students who do laundry once a week within 3% with 95% confidence?
It is thought that the application of a plasma coating that conatins submicron particles of tungsten carbide will reduce wear to rotary valves used in the pulp and paper industry. Tests are conducte
For 40 hardware callers, the average was 16.8 minutes with a standard deviation of 2.1 minutes. The manager decided to assume that the population standard deviations were unequal. At alpha =0.5 can
The Turners have purchased a house for $160,000. They made an initial down payment of $30,000 and secured a mortgage with interest charged at the rate of 7%/year compounded monthly on the unpaid bal
A corporation creates a sinking fund in order to have $980,000 to replace some machinery in 9 years. How much should be placed in this account at the end of each week if the annual interest rate is
How much interest would they earn over the life of the account? Determine the value of the fund after 2, 4, and 6 years.
A research study showed that 50% of workers change jobs within 2 years of employment. George took a random sample of 100 new hires at Starbucks during the last 2 years and found that 47 had changed
Arbitron Media Research Inc. conducted a study of the iPod listening habits of men and women. One facet of the study involved the mean listening time. It was discovered that the mean listening time
What is the critical F value for a sample of 9 observations in the numerator and 6 in the denominator? Use a two-tailed test and the 0.1 significance level. (Round your answer to 2 decimal places.)
What is your point estimate of the percentage of satisfied customers? What is the p-value provided by the sample data? (This is the part I don't understand, there is no standard deviation given, so I
Develop a 98% confidence interval for the proportion opposing health care changes. (Round your answers to 4 decimal places.). Confidence interval for the proportion is and.