What is the value of t*, the critical value of the t distribution for a sample of size 6, such that the probability of being greater than t* is 1%? t* =
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Q: assume that the daily retun on Apple stock is approximately normally distributed with the mean…
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- Suppose weights, in pounds, of dogs in a city have an unknown distribution with mean 31and standard deviation 5 pounds. A sample of size n=39 is randomly taken from the population and the sum is taken. What is the probability that the resulting sum is between 1180 and 1194 pounds?A company that sells binders decides to run a promotion on their 1-inch and 2-inch size binders. Theydiscount the 1-inch binders to $1 per binder and discount the 2-inch binders to $2 per binder. They limitsales to a quantity of 5 of each size of binder per customer. The probability distribution of “X = the numberof 1-inch binders purchased by a single customer during the promotion period” is given in the table below. X 1 2 3 4 5 P(X) 0.02 0.09 0.12 0.15 0.62 a) Compute the mean and standard deviation of X. b) The company’s cost of manufacturing a single 1-inch binder is $0.25. What is the expected profit (indollars) that the company will make, per customer, for 1-inch binder sales during the promotion? c) The mean and standard deviation of “Y = the number of 2-inch binders purchased by a singlecustomer” is 2.74 and 1.25, respectively. Assume that the number of 1-inch and 2-inch binderspurchased are independent random variables. What are the mean and standard deviation of the…Suppose that a random sample of size 25 is to be selected from a population with mean 46 and standard deviation 8. What is the approximate probability that X will be more than .5 away from the population mean?
- What should be the size of the sample if a simple random sample from a population of 5000 items is to be drawn to estimate the per cent defective within 2 per cent of the true value with 95 per cent probability? What would be the size of the sample if the population is assumed to be infinite in the given case?(Normal Curve table value for 95 % is 1.96)X is normally distributed with ?=14 and ?= 4. Find the probability that x is between 1 and 18.4. Suppose that 60% of college students own a smart phone manufactured by Apple. If a random sample of 200 college students is selected, use the normal distribution to approximate the probability that the number of students in the sample owning a smartphone made by Apple will be less than 105. Is it reasonable to use the normal approximation here?
- Let X and Y be two independent random variables from exponential distribution with mean 3 and 4, respectively. Find P (6Y > X) Note: Please round your answer to 4 decimal places.Suppose you were given this Joint Probability Distribution: x=number of bars of signal strength x=number of bars of signal strength x=number of bars of signal strength x=number of bars of signal strength y=number of times city name is stated 1 2 3 Marginal probability distribution of y 4 0.15 0.1 0.05 0.3 3 0.02 0.1 0.05 0.17 2 0.02 0.03 0.2 0.25 1 0.01 0.02 0.25 0.28 0.2 0.25 0.55 Marginal probability distribution of x Marginal probability distribution of x Marginal probability distribution of x Marginal probability distribution of x Find the conditional mean and variance of Y|3 Mean = Variance =Suppose that you take a sample of size 40 from a population that is normally distributed. Can the sampling distribution of x̄ be approximated by a normal probability distribution? What if the population was not normally distributed, can the sampling distribution of x̄ be approximated by a normal probability distribution?
