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Statistics and Probability
There are 300 welders employed at Maine Shipyards Corporation. A sample of 30 welders revealed that 18 graduated from a registered welding course. Construct the 95percent confidence interval for the proportion of all welders who graduated from a registered welding course. (Round your answers to 2 decimal places.)The confidence interval is between and
Probability and statistics
To generate leads for new business, Gustin Investment Services offers free financial planning seminars at major hotels in Southwest Florida. Gustin conducts seminars for groups of 25 individuals. Each seminar costs Gustin $3700, and the average first-year commission for each new account opened is $5300. Gustin estimates that for each individual attending the seminar, there is a 0.01 probability that he/she will open a new account.Assume that the number of new accounts you get randomly is:Simulation TrialNew Accounts102030405062728191100111122131142150160170180191200211220231240250Construct a spreadsheet...
Statistics and probability
A physical fitness association is including the mile run in its secondary-school fitness test. The time for this event for boys in secondary school is known to possess a normal distribution with a mean of 440 seconds and a standard deviation of 50 seconds. Find the probability that a randomly selected boy in secondary school will take longer than 499 seconds to run the mile.
Statistics and Probability
(37 marks) Your client is planning to invest some money with your investment company. The client narrows their options down to 2 investment strategies X and Y , and from past experience the annual percentage returns are as follows: X ∼ N(3, 1 2 ) and Y ∼ N(5, 3 2 ). (a) For each investment strategy, calculate the probability of a negative return. [4 marks] (b) For each investment strategy, calculate the probability of return greater than 5.5%.
Statistics and Probability
The current Men’s high school track record for the mile is 3:53, set by Alan Webb back in 2006. The average mile time for a high school senior is 4:22 (262 seconds), with a standard deviation of 6.3 seconds. Paul, a high school senior, runs the mile in 4:19 (259 seconds). 1.) What is Paul’s percentile ranking among high school seniors? HINT: don’t forget that in this case less is better so you will need to reverse the scale!2.) If Brian’s...
statistics and probability
A research engineer for a tire manufacturer is investigating tire life for a new rubber compound. He has built 16 tires and tested them to end-of-life in a road test. The sample mean and standard deviation are 60,139.7 and 3645.94 kilometers. Compute a 95% tolerance interval on the life of the tires that has confidence level 95%. Compare the length of the tolerance interval with the length of the 95% CI on the population mean. Which interval is shorter? Discuss...
Statistics or Probability
(All answers were generated using 1,000 trials and native Excel functionality.)In preparing for the upcoming holiday season, Fresh Toy Company (FTC) designed a new doll called The Dougie that teaches children how to dance. The fixed cost to produce the doll is $100,000. The variable cost, which includes material, labor, and shipping costs, is $34 per doll. During the holiday selling season, FTC will sell the dolls for $42 each. If FTC overproduces the dolls, the excess dolls will be...
Statistics and Probability
After the premiere of the new comedy Bumblebee, moviegoers were asked in a quick poll whether they liked the movie. Out of 50 adults, 37 said they liked the movie, whereas out of 100 teenagers, 60 said they liked the movie. Fill in the blanks of the statement below to make the statement the most reasonable possible. At the movie premiere, _____ moviegoers liked the movie less because __% disliked the movie, whereas only _____% of the ______ moviegoers disliked the movie
Statistics and Probability
A laboratory in California is interested in finding the mean chloride level for a healthy resident in the state. A random sample of 150 healthy residents has a mean chloride level of 105 mEq/L. If it is known that the chloride levels in healthy individuals residing in California have a standard deviation of 39 mEq/L, find a 95% confidence interval for the true mean chloride level healthy California residents. What is the lower limit of the 95% confidence interval?What is the...
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