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A company wants to estimate the average sales lunch expense. They want to be within $5 of the true mean when using a confidence interval of 95%. The standard deviation is estimated at $25. How many lunch receipts must they sample?
Statistics and Probability, Statistics
In order to fund her retirement, Helen needs her portfolio to have an expected return of 13.8 percent per year over the next 30 years. She has decided to invest in Stocks 1, 2, and 3, with 25 percent in Stock 1, 50 perce ...
The following are amounts of time (minutes) spent on hygiene and grooming in the morning by survey respondents (based on data from an SCA survey). 15, 16, 18, 25, 26, 30, 32, 41, 45, 55, 63. Does the number 63 appear unu ...
Suppose A and B are collectively exhaustive. In addition, P(A) = 0.2 and P(B) = 0.8. Suppose C and D are both mutually exclusive and collectively exhaustive. Further, P(C|A) = 0.7 and P(D|B) = 0.5. What are P(C) and P(D) ...
Income can have significant effects on people's spending patterns. Research studies have revealed that consumer expenditure is influenced by various factors such as their income, gender, age and level of education. In or ...
Describe the theoretical problems of ethics (3), the objectives to solving them.
What is the algebraic equation for the coefficient fo variations?
Ralph and Gina attend differed schools, but each have a GPA of 3.2 The GPA's at each score follow a normal distribution. Ralph's school has a mean GPA of 2.7 and a standard deviation of .25. Gina's school has a mean of 3 ...
A research a research institute conduct the clinical trials of a method designed to increase the probability of conceiving a boy. Amount 170 to babies born to parents using the method. 146 for boys. Identify the margin o ...
In a health club, research shows that on average, patrons spend an average of 42.5 minutes on the treadmill, with a standard deviation of 4.8 minutes. It is assumed that this is a normally distributed variable. Find the ...
Billy currently has $500 in an account that earns 12% APR, compounded monthly. Assuming he doesn't withdraw any of the funds, how much will his balance be in 6 years?
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