Author: Anonymous

A new soft drink is being market tested. A sample of 400 individuals participated in the taste test and 80 indicated they like the taste.a.At a 5% significance level, test to determine if at least 22% of the population will like the new soft drink. b.Determine the p-value.​

A researcher is interested in determining the average number of years employees of a company stay with the company. If past information shows a standard deviation of 7 months, what size sample should be selected so that at 95% confidence the margin of error will be 2 months or less?

If the standard deviation of the lifetimes of vacuum cleaners is estimated to be 300 hours, what sample size must be selected in order to be 97% confident that the margin of error will not exceed 40 hours?

Through a telephone survey, a low-interest bank credit card is offered to 400 households. The responses are as follows:​Income ≤ $50,000Income > $50,000Accept offer4030Reject offer210120​a. Develop a joint probability table and show the marginal probabilities.b. What is the probability of a household whose income exceeds $50,000 and who rejects the offer?c. If income is ≤ $50,000, what is the probability the offer will be accepted?d. If the offer is accepted, what is the probability that income exceeds $50,000?​​​​​

A company has recorded data on the daily demand for its product (y in thousands of units) and the unit price (x in hundreds of dollars). A sample of 11 days’ demand and associated price resulted in the following data: ∑ x = 154∑ x 2 = 2,586∑ y = 451∑ y 2 = 18,901∑ xy = 5,930​a.Using the above information, develop the least-squares estimated regression line.b.Would the demand ever reach zero? If yes, at what price would the demand be zero? Show your complete work.​

In a random sample of 500 college students, 23% say that they read or watch the news every day. Develop a 90% confidence interval for the population proportion. Interpret your results.

A couple has three children. Assuming each child has an equal chance of being a boy or a girl, what is the probability that they have at least one girl?

Excel’s POISSON.DIST function can be used to compute _____.

Through a telephone survey, a low-interest bank credit card is offered to 400 households. The responses are as follows:​Income ≤ $50,000Income > $50,000Accept offer4030Reject offer210120​a. Develop a joint probability table and show the marginal probabilities.b. What is the probability of a household whose income exceeds $50,000 and who rejects the offer?c. If income is ≤ $50,000, what is the probability the offer will be accepted?d. If the offer is accepted, what is the probability that income exceeds $50,000?​​​​​

An investment advisor recommends the purchase of shares in Infogenics, Inc. He has made the following predictions:P(stock goes up 20% | rise in GDP) = 0.6P(stock goes up 20% | level GDP) = 0.5P(stock goes up 20% | fall in GDP) = 0.4An economist has predicted that the probability of a rise in the GDP is 30%, whereas the probability of a fall in the GDP is 40%.a. Draw a tree diagram to represent this multiple-step experiment.b. What is the probability that the stock will go up 20%?c. We have been informed that the stock has gone up 20%. What is the probability of a rise or fall in the GDP?