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1. Describe the major points of the Central Limit Theorem for mean.
2. Why is population shape of concern when estimating the mean? What does sample size have to do with it?
Statistics and Probability, Statistics
Question: In one law school class the entering students averaged 700 on the LSAT test with a standard de-viation of 40. Assuming the distribution of test scores was normal, what fraction of the class scored above 750? Th ...
A population has a mean μ=79 and a standard deviation σ=24. Find the mean and standard deviation of a sampling distribution of sample means with sample size n=248 μx= ?Simplify your? answer. σx= rounded to three decimal ...
The mean of a population of raw scores is 50 (ox=18). What is the probability of randomly selecting a sample of 40 score having a mean above 46?
An investor would like to add the following bond to her portfolio. The bond would be held for 7 years and then sold. The investor has gathered the following information to analyze the bond: Company XYZ Currency: CAD Face ...
What is the 99% confidence interval for a sample of 52 seat belts that have a mean length of 85.6 inches long and a standard deviation of 3.8 inches?
Assume that 50 percent of the students at the university have taken 4 years of high school math. Of those with four years of high school math, 80 percent plan to major in science. Of those without 4 years, only 20 percen ...
Jane and John Doe are twins. Jane saves $10,000 per year from age 25 to 34 and nothing from age 35 onward (10 years of saving in total). John saves nothing from age 25 to 34 and $10,000 from age 35 to 64 (30 years of sav ...
Emmons Corporation has a 0.2 probability of a return of 0.54, a 0.3 probability of a rate of return of 0.05, and the remaining probability of a 0.1 rate of return. What is the variance in the expected rate of return of E ...
A survey asks 20002000 ?workers, "Has the economy forced you to reduce the amount of vacation you plan to take this? year?" FiftyFifty?-fourfour percent of those surveyed say they are reducing the amount of vacation. Twe ...
A coin is randomly picked from a collection of 10 coins, the ith coin having a probabiliity i/10 of coming up heads. The coin in then flipped repeatedly until a head appears. Let X be the number of flips necessary. Find ...
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