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The owner of West-End Kwick Fill Gas wants to determine the portion of customers that pay with a credit card. He surveys 100 customers and finds that 50 pay with a credit card. Develop a 95 percent confidence interval for the population proportion.
Statistics and Probability, Statistics
How does a histogram help us know the probability of getting a certain value for a variable? In other words how does the histogram relate to probability?
The average starting salary for graduates at a university is $33,000 with a standard deviation of $2,000. If a histogram of the data shows that it takes on a mound shape, the empirical rule says that approximately 68% of ...
Ages of CEOs of companies throughout the United States, and answer the questions that follow. Event A : CEO is under 40 Event B : CEO is at least 30 Event C : CEO is in his or her 50s Event D : CEO is under 60 1. Even ...
Folgers has specified that the average amount of coffee that goes into one of their small coffee cans is not to exceed 13.24 ounces. A quality control inspector for Folgers takes a random sample of 16 cans and found the ...
In this question are you just using the empirical rule? You know that your population is normally distributed with a mean of 100 and a standard deviation of 15. Using the empirical rule as a rough approximation, what is ...
Suppose you believe that Du Pont's stock price is going to decline from its current level of $82 sometime during the next 5 months. For $5.25 you could buy a 5-month put option giving you the right to sell shares at a pr ...
How do I figure a cusomer's expected return when borrowing money? Example, the customer wants an investment that costs $100 and considers borrowing $80 for one year at 4.6% to help pay for the investment. What is the cus ...
1) Suppose we want to see if American children have higher levels of cholesterol than the average child (i.e., in the entire world - the total population). We find that the population average for cholesterol for children ...
The length of timber cuts are normally distributed with a mean of 95 inches and a standard deviation of 0.52 inches. In a random sample of 45 boards, what is the probability that the mean of the sample will be between 94 ...
Answer the following questions about an ANOVA analysis involving three samples. a. In this ANOVA analysis, what are we trying to determine about the three populations they're taken from? b. State the null and alternate h ...
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