Question
In: Statistics and Probability
The mean cost of a five pound bag of shrimp is 42 dollars with a variance...
The mean cost of a five pound bag of shrimp is 42 dollars with a variance of 49. If a sample of 54 bags of shrimp is randomly selected, what is the probability that the sample mean would differ from the true mean by more than 1.4 dollars? Round your answer to four decimal places.
Solutions
orchestra answered 1 year agoRelated Solutions
The mean cost of a five pound bag of shrimp is 50 dollars with a standard...
The mean cost of a five pound bag of shrimp is 50 dollars with a
standard deviation of 8 dollars. If a sample of 56 bags of shrimp
is randomly selected, what is the probability that the sample mean
would be greater than 49.1 dollars? Round your answer to four
decimal places.
A one-pound bag of Oreos cost $0.32 in 1922 and $2.99 in 2016. Which one-pound bag...
A one-pound bag of Oreos cost $0.32 in 1922 and $2.99 in 2016.
Which one-pound bag of Oreos is cheaper in real terms? Explain how
you would go about determining your response and show your
work.
United Snack Company sells 40-pound bags of peanuts to university dormitories for $42 a bag. The...
United Snack Company sells 40-pound bags of peanuts to
university dormitories for $42 a bag. The fixed costs of this
operation are $417,120, while the variable costs of peanuts are
$0.26 per pound.
a. What is the break-even point in bags?
b. Calculate the profit or loss (EBIT) on
12,000 bags and on 25,000 bags.
c. What is the degree of operating leverage at
20,000 bags and at 25,000 bags? (Round your answers to 2
decimal places.)
...
a)Five measurements have been taken from a population having mean 42 and variance 16. The probability...
a)Five measurements have been taken from a population having
mean 42 and variance 16. The probability that the average of these
measurements exceeds 42.7 is
Group of answer choices
not to be determined from the given information, without
additional assumptions.
0.244
0.126
0.366
0.411
b)LC50 for a chemical is the lethal concentration for 50% of
animals or humans. For example, if the water contains a chemical at
the LC50 concentration, 50% of the fish population in the water
would die....
The mean annual income for people in a certain city (in thousands of dollars) is 42,...
The mean annual income for people in a certain city (in
thousands of dollars) is 42, with a standard deviation of 30. A
pollster draws a sample of 92 people to interview.
A) What is the probability that the sample mean income is less
than 37? Round the answer to at least four decimal places.
B) What is the probability that the sample mean income is
between 40 and 44? Round the answer to at least four decimal
places.
C)...
A random sample of 42 observations is used to estimate the population variance. The sample mean...
A random sample of 42 observations is used to estimate the
population variance. The sample mean and sample standard deviation
are calculated as 74.5 and 5.6, respectively. Assume that the
population is normally distributed.
a. Construct the 90% interval estimate for the
population variance. (Round intermediate calculations to at
least 4 decimal places and final answers to 2
decimal places.)
b. Construct the 99% interval estimate for the
population variance. (Round intermediate
calculations to at least 4 decimal places and...
The mean capita income is 15,451 dollars per annum with a variance of 298,116. What Is...
The mean capita income is 15,451 dollars per annum with a
variance of 298,116.
What Is the probability that the sample mean would differ from
the true mean by greater than 22 dollars if a sample of 350 persons
is randomly selected? Round answer to dour decimal places.
The cost of 5 gallons of ice cream has a variance of 49 with a mean...
The cost of 5 gallons of ice cream has a variance of 49 with a
mean of 36 dollars during the summer. What is the probability that
the sample mean would differ from the true mean by less than 1.5
dollars if a sample of 142 5-gallon pails is randomly selected?
Round your answer to four decimal places.
The cost of 5 gallons of ice cream has a variance of 49 with a mean...
The cost of 5 gallons of ice cream has a variance of 49 with a
mean of 37 dollars during the summer. What is the probability that
the sample mean would be greater than 35.2 dollars if a sample of
77 5-gallon pails is randomly selected? Round your answer to four
decimal places.
Let X have mean ? and variance ?^2. (a) What are the mean and variance of...
Let X have mean ? and variance ?^2. (a) What are the mean and
variance of -X? Explain intuitively. (b) Find constants a and b
such that the random variable Y=aX +b has mean 0 and variance 1
(this is called standardization).
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