A marketing analyst wants to examine the relationship between sales (in $100s) and advertising (in $100s) for firms in the foodand beverage industry and collects monthly data for 25 firms. He estimates the model:Sale = 28.7*Advertising + 40.5 + ɛ with a standard deviation o = 25 (in S100s).With a budget of 3,000s on advertising,The probability that the sale is more than 92,000 isThe probability that the sale is less than 89,000 is

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Answered: A marketing analyst wants to examine…

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

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The manager of a supermarket tracked the amount of time needed for customers to be served by the cashier. After checking with his statistics professor, he concluded that the checkout times are exponentially distributed with a mean of 5 minutes. What propotion of customers require more than 10 minutes to check out?
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A professor of statistics noticed that the marks in his course are normally distributed. He also noticed that his morning classes average 73% with a standard deviation of 12% on their final exams. His afternoon classes average 79% with a standard deviation of 11%. A. What is the probability that a randomly selected student in the morning class has a higher final exam mark than a randomly selected student from an afternoon class? Probability = B. What is the probability that the mean mark of four randomly selected students from a morning class is greater than the average mark of four randomly selected students from an afternoon class? Probability =
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Twelve percent of the world's population is left-handed. A researcher claims that left-handed individuals are more creative than those who aren't left-handed. In order to support his claim, he takes a sample of 1650 artists and finds that 14% of.them are left-handed. Español Answer the following. (If necessary, consult a list of formulas.) (a) Find the mean of p, where p is the proportion of left-handed individuals in a random sample of 1650. 00 (b) Find the standard deviation of p. (c) Compute an approximation for P (p s0.14), which is the probability that there will be 14% or fewer left-handed people in a random sample of 1650. Round your answer to four decimal places. Save For Later Submit Assignment Check Terms of Use Privacy Center Accessibility acer esc backspa

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