Suppose you sample one value from a uniform distribution with a = 0 and b=20. a. What is the probability that thevalue will be between 12 and 172 b. What is the probability that the value will be between 4 and 72 c. What isthe mean? d. What is the standard deviation?a. The probability that the value will be between 12 and 17 is(Type an integer or a decimal)

a) Let's break down the steps for calculating the probability that the value will be between 12 and…

Answered: Suppose you sample one value from a…

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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A company spent $20,000 two months ago in advertising and received $500,000 in sales today. The sales manager believes that the advertising expenditures influenced this level of sales. This situation is described as a: A. Customer decay rate B. Carryover effect OC. All of the listed choices are correct D. Calibration effect
(29) Please calculate the standard deviation for the following. Please round to 2 decimals (if answer is 10% please answer 10.00) State of nature Eret A B C D 5.50% 8% -2% 3.60% Probability 14% ? 31% 48%
The following data set was collected from a survey 60, 56,46,55,42,43,57,46,49,56,55,59,49,41,52,53,46,51,54,43,41 If a frequency distribution is to be constructed with classes 40-44, 45-49, 50-54, 55-59, and 60-64 what is the frequency of the 40-44 class
Advantages of using trend analysis of data are: Select one: a. A determination may be made as to whether the process has changed b. All of the data collected, at a given point in time, can be displayed on the same graph c. Cyclical data pattern maximums and minimums will exceed the control limits d. If the trends are favorable, the graph provides the reason for the cause of the change
The general meaning of a standard error is best described by which of the following? a. A standard error is another term for the estimated standard deviation of the population. b. If you go out about two standard errors on either side of 0, you can be about 95% confident that the unknown population parameter will be in the resulting interval. c. A standard error is essentially a standard deviation, specifically, the standard deviation of the sampling distribution of the estimate of the population parameter. d. All of these choices are correct characterizations of a typical standard error.
The following correlation coefficient values come from five different linear regression models. Which model "fits" the data the best? D -8 0.50 00 0.99 O -1
Explain what is meant by standard deviation and how to find it. Find an example of a situation with a small data set and determine the standard deviation. Explain what the standard deviation means in context of the situation.
In a sample of 103 bags of dog food, the average weight was found to be 21.5⁢lb with a standard deviation of 0.5. Give a point estimate for the population variance of the weight of the bags of dog food. Round your answer to two decimal places, if necessary.
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A manufacturing company produces steel rods. The length of these rods is critical to their customers. The company aims to manufacture rods with a mean length of 150 cm. However, due to variability in the manufacturing process, the lengths of the rods follow a normal distribution. The company's quality control department samples 30 rods and finds that they have a mean length of 151 cm and a standard deviation of 2 cm. Calculate the Process Capability Index (Cp) and the Process Performance Index (Ppk) for this process. Assume the customer's specification limits are 147 cm and 153 cm for the length of the rods.
A hospital in a developing nation is forced to manually put the flu shot vaccine into syringes. The recommended dosage for the flu shot is 0.5mL. The local health authorities define all syringes that have less than 0.45ml or more than 0.55mL as defective. In a sample of 100 syringes, the hospital’s quality control officer finds the average dosage to be 0.5mL. The standard deviation of the dosage is 0.02 mL and the distribution of the dosages resembles a normal distribution reasonably closely. To what level would the hospital have to reduce the standard deviation of the operation if his goal were to obtain a capability score of Cp=4/3 (i.e., get 63 defects per million)?

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