ssume the largest recorded checkout time was 13.2 minutes. Suppose that data point was incorrect and...
ssume the largest recorded checkout time was 13.2 minutes. Suppose that data point was incorrect and the actual checkout time was 13.8 minutes. Answer the following …
(c - 2 points) Will the mean of the dataset increase, decrease or remain the same and why?
Homework Answers
The mean will increase because mean is the ratio of sum of all numbers and the number of observations and if sum of all numbers is increasing and number of observations is same, the mean will increase.
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ssume the largest recorded checkout time was 13.2
minutes. Suppose that data point was incorrect and...
Suppose the waiting time, in minutes, at a checkout line in a local super market follows...
Suppose the waiting time, in minutes, at a checkout line in a local super market follows a Uniform distribution in the interval (1,6) a. How long is a randomly chosen customer at the super market expected to wait at the checkout counter? b. What is the probability that a randomly chosen customer at the super market will wait between 2 and 5 minutes to be checked out? c. Suppose a random sample of 100 customers is taken at the super...
4. A grocery story recorded amount of time that 20 randomly selected shoppers waited in checkout...
4. A grocery story recorded amount of time that 20 randomly selected shoppers waited in checkout lines. The mean was 203 seconds (3 minutes, 23 seconds) and the standard deviation was 54 seconds. Construct a 95% confidence interval for the mean wait time for all of the shoppers at the grocery store. (You must show work and/or TI calculator commands to receive credit. You may give your answer in seconds) (1 point)
Question 2 Customers arrive at the checkout counter (shown in the figure below) at random from 1 to 8 minutes apart. Each possible value of inter-arrival time has the same probability of occurren...
Question 2 Customers arrive at the checkout counter (shown in the figure below) at random from 1 to 8 minutes apart. Each possible value of inter-arrival time has the same probability of occurrence, as shown in Table 2.6. The service times vary from 1 to 6 minutes with the probabilities shown in Table 2.7. Departure Arrival Checkout Counter Table 26 Distribution of TIme Between Amivals Time baweerm Arrivals Table 27 Service-Time Distribution Minutesy) Prohablity Service Tme 0.125 0.125 0.125 125...
Will rate!! Suppose a company that manufactures paint claims in their advertisement: "In a randomized comparotive...
Will rate!!
Suppose a company that manufactures paint claims in their advertisement: "In a randomized comparotive experiment on drying time, our paint beat out the competition! We have the fastest drying point!" Suppose the following is the actual data from the experiment: Dry time in minutes for Manufacturers Paint 33.3 29.35.6 Dry time in minutes for Competitions Paint 33.4 35.7 29.3 a. (1 point) What are the average dry times for each company's paint? (3 points) Is the manufacturers claim...
A bond has a MacD of 14.6, ModD of 13.8 and DV01 of $2.5. Suppose its yield to maturity goes down one percentage point (...
A bond has a MacD of 14.6, ModD of 13.8 and DV01 of $2.5. Suppose its yield to maturity goes down one percentage point (e.g., from 5% to 4%). Which of the following is most likely to be true? [Hint: 1% = 100 basis points] A The bond's price should decrease by approximately $14.6. B The bond's price should increase by approximately $13.8. C The bond's price should increase by approximately $2.5. D The bond's price should increase by approximately...
Suppose a geyser has a mean time between eruptions of 73 minutes. If the interval of time between...
Suppose a geyser has a mean time between eruptions of 73 minutes. If the interval of time between the eruptions is normally distributed with standard deviation 18 minutes, answer the following questions. (a) What is the probability that a randomly selected time interval between eruptions is longer than 81 minutes? The probability that a randomly selected time interval is longer than 81 minutes is approximately ___ (b) What is the probability that a random sample of 13 time...
8.12 Suppose TRF = 6%, PM - 10%, and bi = 1.8. a. What is ri,...
8.12
Suppose TRF = 6%, PM - 10%, and bi = 1.8. a. What is ri, the required rate of return on Stock i? Round your answer to one decimal place. b. 1. Now suppose RF increases to 7%. The slope of the SML remains constant. How would this affect IM and ri? I. Both rm and i will decrease by 1 percentage point. II. Both rm and i will remain the same. III. Both PM and ri will increase...
The study reported the following data on oxidation induction time (in minutes) for various commercial oils:...
The study reported the following data on oxidation induction time (in minutes) for various commercial oils: 130, 180, 105, 142, 138, 81, 99. Answer the following questions. (Round your answers to 2 places after the decimal point, specify measurement units). a. Calculate the sample mean. Answer: b. Calculate the sample median. (Use the approach covered during lecture). Answer: c. Calculate the sample variance. d. Calculate the sample standard deviation. Answer: e. If the observations were re-expressed in hours, what would...
Suppose you have the following data, with a mean and standard deviation of 5 and 2.1...
Suppose you have the following data, with a mean and standard deviation of 5 and 2.1 3 3 4 5 7 8 If you were to subtract 2 from every observation, what change - if any- would you see in the transformed mean and standard deviation? the mean and standard deviation would decrease the mean wold stay the same but the standard deviation would decrease the mean and standard deviation would stay the same the mean would decrease but the...
Problem 1 (10 points). The time history data in many mechanical engineering measurements are of recorded...
Problem 1 (10 points). The time history data in many mechanical engineering measurements are of recorded using a digital data acquisition system so they can be transmitted, stored, and anal easily. The signal is sampled discretely over a duration of Tr (seconds) with a constant time interval of & (seconds) between adjacent discrete data samples. So the signal in the frequency domain is also discretized with the maximum and minimum resolvable sampling frequencies fmax and Jmin being given as 1/(28)...
4. A grocery story recorded amount of time that 20 randomly selected shoppers waited in checkout lines. The mean was 203 seconds (3 minutes, 23 seconds) and the standard deviation was 54 seconds. Construct a 95% confidence interval for the mean wait time for all of the shoppers at the grocery store. (You must show work and/or TI calculator commands to receive credit. You may give your answer in seconds) (1 point)
Question 2 Customers arrive at the checkout counter (shown in the figure below) at random from 1 to 8 minutes apart. Each possible value of inter-arrival time has the same probability of occurrence, as shown in Table 2.6. The service times vary from 1 to 6 minutes with the probabilities shown in Table 2.7. Departure Arrival Checkout Counter Table 26 Distribution of TIme Between Amivals Time baweerm Arrivals Table 27 Service-Time Distribution Minutesy) Prohablity Service Tme 0.125 0.125 0.125 125...
Will rate!!
Suppose a company that manufactures paint claims in their advertisement: "In a randomized comparotive experiment on drying time, our paint beat out the competition! We have the fastest drying point!" Suppose the following is the actual data from the experiment: Dry time in minutes for Manufacturers Paint 33.3 29.35.6 Dry time in minutes for Competitions Paint 33.4 35.7 29.3 a. (1 point) What are the average dry times for each company's paint? (3 points) Is the manufacturers claim...
8.12
Suppose TRF = 6%, PM - 10%, and bi = 1.8. a. What is ri, the required rate of return on Stock i? Round your answer to one decimal place. b. 1. Now suppose RF increases to 7%. The slope of the SML remains constant. How would this affect IM and ri? I. Both rm and i will decrease by 1 percentage point. II. Both rm and i will remain the same. III. Both PM and ri will increase...
The study reported the following data on oxidation induction time (in minutes) for various commercial oils: 130, 180, 105, 142, 138, 81, 99. Answer the following questions. (Round your answers to 2 places after the decimal point, specify measurement units). a. Calculate the sample mean. Answer: b. Calculate the sample median. (Use the approach covered during lecture). Answer: c. Calculate the sample variance. d. Calculate the sample standard deviation. Answer: e. If the observations were re-expressed in hours, what would...
Problem 1 (10 points). The time history data in many mechanical engineering measurements are of recorded using a digital data acquisition system so they can be transmitted, stored, and anal easily. The signal is sampled discretely over a duration of Tr (seconds) with a constant time interval of & (seconds) between adjacent discrete data samples. So the signal in the frequency domain is also discretized with the maximum and minimum resolvable sampling frequencies fmax and Jmin being given as 1/(28)...
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