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Problem: We are interested in estimating the mean life of a new product. How large a sample do we need to take in order to estimate the mean to within 1/10 of a standard deviation with 90% confidence?
Statistics and Probability, Statistics
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Alphonse contributes $542 per year at the end of each year to his pension plan. Assuming he can earn 6.62 per year from his plan, what is the total valve of his account at the end of 7 years?
What is liquidity and why is liquidity important to the success of a business? Give the Reference
If you want to be 95?% confident of estimating the population mean to within a sampling error of ±25 and the standard deviation is assumed to be 125?, what sample size is? required?
Using Chebysheff's theorm, you have concluded that at least 77.66% of the 3,075 runners took between 60.5 and 87.5 minutes to complete the 10km race. What was the standard deviation of these 3,075 runners?
Ten students were sampled at random from a student population. Each was asked how many courses he or she was planning on studying in the upcoming year. The following is a list of the reported data values: 1, 2, 2, 3, 4, ...
You play the following game against your friend. You have 2 urns and 4 balls. One of the balls is black and the other 3 are white. You can place the balls in the urns any way that you'd like, including leaving an urn emp ...
Waterton Lakes National Park in Alberta has 6 trails that reach the icefields. If a hiker wishes to reach the icefields in 3 different ways during a visit, how many different possibilities would there be?
While preparing for their comeback tour, the flaming Roger's find that the average time it takes their sound tech to set up for a show is 61 minutes, with a standard deviation of 4.1 minutes. If the band manager decides ...
The height of 5th grade boys is normally distributed with mean μ=57 inches and standard deviation σ=2 inches. What is the probability that the height of a randomly selected 5th grade boy will be between 53 inches and 61 ...
You want to you want to estimate the mean weight of quarters in circulation. A sample of 30 quarters has a mean weight of 5.649 grams in a standard deviation of 0.066 gram. Use a single value to estimate the mean weight ...
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