The annual returns, in percentages, on stocks A and B for three possible states of the economy are given in the table below. Economy State Probability Stock A Stock B Good 0.5 40 20 Average 0.3 20 40 Bad 0.2 1
You are trying to get an important new customer to buy a product that you produce. Their decision to buy the product from you will depend primarily on the speed with which you can produce the product once they have placed an order. Currently, it takes you 70 hours on average to produce the product with a standard deviation of
See attached file. 9.16 We use formulas to describe calculations. Find the error in symbolic notation in each of the following formulas. Explain why it is incorrect and provide the correct symbolic notation. a. z = (X - M) σ b. X = z(σ) - µm c. σm = ___σ__
Find the 95% confidence interval for the standard deviation of the lengths of pipes if a sample of 26 pipes has a standard deviation of 14.6 inches. Show me step by step how to solve this problem and what identifies the equation to use.
Population standard deviation The ages (in years) of the 6 employees at a particular computer store are 32, 35, 31, 27, 32, 35 Assuming that these ages constitute an entire population, find the standard deviation of the population. Round your answer to at least two decimal places. See the attached problem.
A random sample is obtained from a population with a mean of u = 50 and a standard deviation of o = 12. 1. For a sample of n = 4 scores, would a mean of M = 55 be considered an extreme value or is it a fairly typical sample mean? 2. For a sample of n = 36 scores, would a sample mean of M = 55 be considered an extreme value
Assume that the population of heights of male college students is approximately normally distributed with mean m of 69.09 inches and standard deviation s of 4.71 inches. A random sample of 92 heights is obtained. Show all work. (A) Find p(x>68.5) (B) Find the mean and standard error of the distribution (C) Find p(x
The following data lists the average monthly snowfall for January in 15 cities around the US: 42 45 8 18 45 15 31 46 3 33 2 6 32 47 36 Find the mean, variance, and standard deviation.
Twenty-five samples of size 6 resulted in x = 8.0 and R = 2.0 for the Quality Service Company's average time to complete an order. Compute control limits for x- and R-charts and estimate the standard deviation of the process.
See attached file. The Excel file contains a single question (w/correct answer provided). The question was posed to a group of 21 respondents whose responses are shown. Referencing the 21 responses, compute the unknown values requested.
It is well known that children with developmental delays (i.e., mild mental retardation) are slower, cognitively, than normally developing children. A study compared the social interactions of the two groups of children in a controlled playground environment. One variable of interest was the number of intervals of "no play" by e
Numerous studies have been dedicated to investigate the relationship between juvenile delinquency and poor verbal abilitiies. Assume that scores of Verbal Intelligence Quotient (IQ) test have a population mean ... a. What shape would you expect the sampling distribution of x bar for n=84 juveniles to have? Does your answer dep
For a population with of mean of = 100 and a standard deviation of =10. A. Find the z-score for each of the following x values: X = 105 X = 120 X = 130 X = 90 X = 85 x= 60 B. Find the scores (X value) that corresponds to each of the following z-scores: z = -1.00 z = -0.50 z= 2.00 z = 0.70 z = 1.50 z= - 1
A manufacturer of a certain type of large machine wishes to buy rivets from one of two suppliers. It is important that the breaking strength of each rivet exceed 10,000 PSI. (Below 10,000 PSI results a defective rivet). Two suppliers (A & B) offer this type of rivet. Both have rivets whose breaking strength are normally dist
Please see attachment and explain all work. 1) The distribution of actual weights of 8 oz. wedges of cheddar cheese produced at a dairy is Normal with mean 8.1 ounces and standard deviation 0.1 ounces. a) If a sample of five of these cheese wedges is selected, the probability that their
Statistics: tendon surgery, free throws, mean number, ten line table (Please see attachment and show all work).
You have torn a tendon and are facing surgery to repair it. The surgeon explains the risks to you: infection occurs in 3%of such operations, repair fails in 14%, and both infection and failure occur together in 1 %. What % of these operations succeed and are free from infection? Follow the four step process using a Venn diagram.
One suggested environmental determinant of pediatric lung function is the level of cigarette smoking in the home. A researcher wants to do a pilot study with two groups: Group 1 will consist of children up to 5 years of age with a mean FEV = 2.1 with standard deviation = 0.7. Both of the parents of these children will smoke.
Mary is conducting a study and wants to determine sample size of two groups. One group has a mean of 3.5 with standard deviation of .8 the other group has a mean of 2.1 with a standard deviation of .5 How many N are needed in each group to have a 95% chance of detecting a significant difference using a two-sided alpha at
A customer wants delivery to be ensured between 10 am and 2 pm. Your truck leaves the factory at 4 am and the time taken to reach the customer is normally distributed with an average of 8 hrs and a standard deviation of 1 hr. What is the process capability ratio of the process? If you want to improve the ability of the de
You are buying an important electronic component from a supplier in China. The component costs $360 and you incur a fixed shipment charge of $5000 whenever you order. You use a 20% interest rate to compute holding costs. The daily demand for the product is normally distributed with mean 5 pieces and standard deviation 2 pieces.
Population standard deviation: In a particular hospital, 5 newborn babies were delivered yesterday. Here are their weights (in ounces): 130;130;99;110;126 Assuming that these weights constitute an entire population, find the standard deviation of the population. Round your answer to at least two decimal places. (If nec
1. Suppose the annual snowfall in a city is normally distributed with a mean of 75 inches and a standard deviation of 20 inches. Find the probability that in a given year, snowfall in the city would be between 50 and 100 inches (that is, within §25 of 75). 2. Let X denote the amount of money a student spends on books in
#1 The time, in hours, that a copying machine may work without breaking down is a normally distributed random variable with the mean 549 and the standard deviation 68. Find the probability that the machine will work for at least 500 hours without breaking down - explain your answer (study guide problem 59). #2. Total annua
Quality Textiles International is an organization that weaves fabric and then prepares the required sheet lengths as desired by customers. They have received recent complaints that the fabric weight, measured in oz per square inch, is not meeting customer requirements, which are very close to the control limits. Quality Textiles
A plumbing supplier's mean monthly demand for vinyl washers is 24,212 with a standard deviation of 6,053. The mean monthly demand for steam boilers is 6.8 with a standard deviation of 1.7. Compare the dispersion of these distributions. Which demand pattern has more relative variation?
If we are dealing with non-normal data we use Chebychev's Theorem. While not as precise, it does provide some level of utility. If we use Chebychev, how many standard deviations do we have to go out from the mean, in order to approach roughly the same level of precision provided by plus or minus two SDs under the Empirical Rul
Ten percent of American adults are left-handed. Suppose we have a sample of 25 people. Assume that each person in the sample is either left or right-handed. a) Find the mean and standard deviation for the number of left-handed people in the sample. Mean= 2.5 standard deviation = 1.5 b) Would it be unusual to sur
2. (Moments and Chebyshef's inequality, 8 points) A random variable X has E[X] = 10 and Var[X] = 100. (a) Find the smallest upper bound for P(X (greater than or equal to) 40) (b) Can X be a binomial random variable? (c) Can X be a Poisson random variable? (d) Can X be Exponential?
Employees from five computer companies were surveyed to find their monthly income in hundreds of dollars. The data is shown below. Compute the sample standard deviation in hundreds of dollars. 17.4, 24.6, 36.2, 48.1, 48.7.
Read the following case study. Then, use the information to answer the accompanying follow-up question. What changes could be suggested to make this test better? Dr. Zak developed a test to measure depression. He sampled 100 university students to take his five item test. The group of students was comprised of 30 men and 70