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What are examples of variables that follow a binomial probability distribution? What are examples of variables that follow a Poisson distribution? When might you use a geometric probability?
Do you agree that "if two events are mutually exclusive then these two events will be independent"? Why?
Determine the shape of the distribution based on the sample data? Explain your conclusion.
Provide one business-related example each, with explanation, for mutually exclusive and independent events.
Why does APA recommend that we calculate a measure of effect size in addition to calculating the test statistic?
Compute the following. A. Mean B. Median C. Mode D. Range
a) Discuss what is meant by Quality control and quality improvement. b) What are the limitations of a quality control charts?
Suppose model C seats were produced by the thousands and suppose we selected one at random from the huge warehouse full of them. What is the probability that we get a seat that would score above an
Draw ogives from the following data and measure the median value. Verify it by actual calculation.
what is the probability of selecting a family that has either a visa card or an american card?
A recent survey by the company's marketing department has determined that among customers who have bought the product, one of eight were called.
Can you claim that the market situation has improved? Calculate the probability value and compare with significance level 0.05.
Your research hypothesis is that the mean salaries for men and women are different. Draw your conclusion at significance level 0.05.
Later we discover that the $1945 value was mis-recorded and should have been $2945. (a) Find the corrected value for the median.
What is the probability that the faulty component will be one of the two components chosen for testing?
Two dice are rolled and the two resulting values are multiplied together to form the quantity z. What are the expected value and the variance of the random variable z?
Consider the following regression model: Graph salary (Y) against years of experience (X). Do this for both groups (without MBA, with MBA) on the same graph.
Calculate a 95 percent confidence interval for the unknown proportion of smokers among the UoI student population.
The average fill volume from a random sample of 49 bottles of an energy drink is 32.8 ounces; the standard deviation among the individual fill volumes is3.5 ounces. Determine a 95 percent confidence
You are interested in the proportion of smokers. Consider a population consisting of N = 4 elements: the first two persons smoke, while the remaining two do not smoke. That is {S, S, N, N}
A company receives a very large shipment of components. A random sample of sixteen of these components is checked, and the shipment is accepted if fewer than two of the sampled components are defect
The weights of packets of cookies produced by a manufacturer have a normal distribution with mean 202 grams and standard deviation 3 grams. What is the weight that should be written on the packet so
If the owner of KINT wants the estimate to be within one quarter of an hour of the viewing time, how many executives should be surveyed if a 99% level of confidence is desired?
The Wester Refineria company STATISTICIAN wants to estimate the proportion of customers who use a credit /debit card to pay at the pump. She surveyed 150 customers and found out that 120 paid us