The manager of the 420-room SleepyTime Hotel is trying to decide how many rooms to reserve for vacationers who book less than two weeks in advance. Demand for the "early booking" rooms is unlimited at the price of $240/day. Demand for the "late booking" rooms averages around 120 rooms/day, and varies by about 15 rooms/day. Th
The mean price of 7 Hewlett Packard computers is $815 with a standard deviation of $19. The mean price of 9 IBM computers is $845 with a standard deviation of $9. If the alpha value is 0.05, can a computer shopper conclude that the IBM computers cost more? a. yes, there is enough evidence to conclude IBM computers cost more
What kind of test is used if the population standard deviation is not known and is less than 30?
1. What are standard deviation, mean, and variance for sample and populations and what Greek letters represent them? Give examples please.
Calculating the mean and variance for different portfolios.
Sample data was collected in a study of calcium supplements and their effects on blood pressure. A placebo group and a calcium group began the study with blood pressure measurement. At a 0.05 significance level, test the claim that the 2 sample groups come from populations with the same mean. Placebo mean: 114.6538, standard d
The time taken to install bumpers on cars passing through a particular assembly line is normally distributed with mean time u=2.00 minutes and standard deviation =36 minutes. A sample on n=100 is obtained and a mean bumper installation time X-bar will be calculated. 1. Find the value of standard deviation X bar. Determine th
1. Bill has completed a ten question multiple choice test on which he answered seven questions correctly. Each question had one correct answer to be chosen from four alternatives. Bill says that he answered the test by randomly selecting the answers without reading the questions or answers. a. What is the expected number of