The mean cost of domestic airfares in the United States rose to an all-time high of $375 per ticket. Airfares were based on the total ticket value, which consisted of the price charged by the airlines plus any additional taxes and fees. Assume domestic airfares are normally distributed with a standard deviation of $115. Use Table 1 in Appendix B.
a. What is the probability that a domestic airfare is $540 or more (to 4 decimals)?
b. What is the probability that a domestic airfare is $255 or less (to 4 decimals)?
c. What if the probability that a domestic airfare is between $310 and $500 (to 4 decimals)?
d. What is the cost for the 5% highest domestic airfares? (rounded to nearest dollar) (X) $ or (more/less)
In: Statistics and Probability
The SAT is a standardized college admissions test used in the United States. The following two multi-part questions will ask you some questions about SAT testing.
This is a 6-part question asking you to determine some probabilities of what happens when a student guessed for all of their answers on the SAT. Use the information below to inform your answers for the following questions.
An old version of the SAT college had a -0.25 point penalty for every incorrect answer and awarded 1 point for a correct answer. The quantitative test consisted of 44 multiple-choice questions each with 5 answer choices. Suppose a student chooses answers by guessing for all questions on the test.
1. What is the standard error of guessing on all 44 questions? Use the Central Limit Theorem to determine the probability that a guessing student scores 8 points or higher on the test.
In: Statistics and Probability
Include Graphs
The United States' economy is growing at a faster rate than the
economy of its trading partner, the United Kingdom. As a result,
the rate of American inflation is increasing.
In: Economics
1.If approximately one in every 2500 white individuals in the united states is affected by the autosomal recessive disease cystic fibrosis, what are the frequencies of both the dominant and recessive alleles in the populations ?
If 14% of individuals in a population have the reseccive phenotype (aa), what percentage of the population is heterozygous ?
I need this answered with a legibale explanation step by step in a simple manner
In: Biology
Fresh!Now! is a chain of grocery stores in the United States with 1921 grocery stores in total, some of which also sell bakery goods and freshly made food-to-go. Fresh!Now!’s goal is to provide good quality fresh vegetables at affordable prices. However, given the existing market of organic food supplies, Fresh!Now! is facing tremendous competition. They realize that Fresh!Now! has to make their stores more attractive to customers.
In 19 stores across Massachusetts and New York, they have implemented a new concept to present the vegetables in the stores and have collected information of the average daily profit of leafy vegetables (in dollar) per customer per store (see table below). Janine, the head of the analytics department at Fresh!Now!, has tasked you with developing an anlaysis to better understand if the new concept has any effect.
| Store | Profit in dollar per customer per store |
| MA 1 | 16.4 |
| MA 2 | 17.16 |
| MA 3 | 10.19 |
| MA 4 | 13.28 |
| MA 5 | 15.59 |
| MA 6 | 15.51 |
| MA 7 | 15.61 |
| MA 8 | 14.09 |
| MA 9 | 12.49 |
| NY 1 | 16.18 |
| NY 2 | 17.14 |
| NY 3 | 14.24 |
| NY 4 | 17.25 |
| NY 5 | 15.2 |
| NY 6 | 17.25 |
| NY 7 | 14.69 |
| NY 8 | 15.85 |
| NY 9 | 12.45 |
| NY 10 | 17.08 |
1. Your first task it to create a 95% confidence interval for the mean of the dataset using the sample collected from Massachusetts and New York.
What is the upper limit of this confidence interval?
Round your answer to three decimals places (e.g. if your calculation results in 12.9237 put in 12.924).
2. What is the lower limit of this confidence interval?
Round your answer to three decimals places (e.g. if your calculation results in 12.9237 put in 12.924)..
3. To understand if the new concept has taken effect, you want to conduct a hypothesis test. Average daily profit per customer per store for the leafy vegetables in all other Fresh!Now! grocery stores is 14.
You formulate the following hypothesis test:
H0: Average daily profit at Fresh!Now! in the New York/Massachusetts stores is not higher than the average daily profit of all other Fresh!Now! grocery stores at a confidence level of 95%.
H1: Average daily profit at Fresh!Now! in the New York/Massachusetts stores is higher than the average daily profit of all other Fresh!Now! grocery stores at a confidence level of 95%.
Calculate the test-statistic for the hypothesis test above.
In: Statistics and Probability
Fresh!Now! is a chain of grocery stores in the United States with 1879 grocery stores in total, some of which also sell bakery goods and freshly made food-to-go. Fresh!Now!’s goal is to provide good quality fresh vegetables at affordable prices. However, given the existing market of organic food supplies, Fresh!Now! is facing tremendous competition. They realize that Fresh!Now! has to make their stores more attractive to customers.
In 19 stores across Massachusetts and New York, they have implemented a new concept to present the vegetables in the stores and have collected information of the average daily profit of leafy vegetables (in dollar) per customer per store (see table below). Janine, the head of the analytics department at Fresh!Now!, has tasked you with developing an anlaysis to better understand if the new concept has any effect.
|
|
Your first task it to create a 95% confidence interval for the mean of the dataset using the sample collected from Massachusetts and New York.
Question 1 What is the upper limit of this confidence interval?
Question 2 What is the lower limit of this confidence interval?
To understand if the new concept has taken effect, you want to conduct a hypothesis test. Average daily profit per customer per store for the leafy vegetables in all other Fresh!Now! grocery stores is 14.1.
You formulate the following hypothesis test:
H0: Average daily profit at Fresh!Now! in the New York/Massachusetts stores is not higher than the average daily profit of all other Fresh!Now! grocery stores at a confidence level of 95%.
H1: Average daily profit at Fresh!Now! in the New York/Massachusetts stores is higher than the average daily profit of all other Fresh!Now! grocery stores at a confidence level of 95%.
Question 3 Calculate the test-statistic for the hypothesis test above.
Question 4
Please select the result of your hypothesis test:
Choose the correct answer.
A: Fail to reject H0: You are not 95% confident that the mean profit in the Massachusetts/Boston stores is higher than the population mean.
B: Accept H0: Profit in the Massachusetts/Boston stores is lower than the population mean at the 95% confidence level.
C: Reject H0: You are 95% confident that the mean profit in the Massachusetts/Boston stores is higher than the population mean.
D: The result of your hypothesis test does not tell you if you can reject H0 or not.
Question 5 Calculate the p-value for the hypothesis test above.
In: Statistics and Probability
The mean cost of domestic airfares in the United States rose to an all-time high of $380 per ticket. Airfares were based on the total ticket value, which consisted of the price charged by the airlines plus any additional taxes and fees. Assume domestic airfares are normally distributed with a standard deviation of $115.
a. What is the probability that a domestic airfare is $555 or more (to 4 decimals)?
b. What is the probability that a domestic airfare is $250 or less (to 4 decimals)?
c. What if the probability that a domestic airfare is between $320 and $490 (to 4 decimals)?
d. What is the cost for the 5% highest domestic airfares? (rounded to nearest dollar)
In: Statistics and Probability
In the United States, voters who are neither Democrat nor Republican are called Independent. It is believed that 13% of voters are Independent. A survey asked 33 people to identify themselves as Democrat, Republican, or Independent.
A. What is the probability that none of the people are Independent?
Probability =
B. What is the probability that fewer than 6 are Independent?
Probability =
C. What is the probability that more than 3 people are Independent?
Probability =
In: Statistics and Probability
Assume that annual interest rates are 8 percent in the United
States and 7 percent in Turkey. An FI can borrow (by issuing CDs)
or lend (by purchasing CDs) at these rates. The spot rate is
$0.6571/Turkish lira (TL).
a. If the forward rate is $0.6735/TL, how could
the bank arbitrage using a sum of $8 million? What is the spread
earned? (Do not round intermediate calculations. Round your
answer to 4 decimal places. (e.g., 32.1616))
b. At what forward rate is this arbitrage
eliminated? (Do not round intermediate calculations. Round
your answer to 5 decimal places. (e.g., 32.16161))
In: Finance
Describe one other epidemiological threat in the United States that has been in the news in the past 2 years that is not influenza. Discuss how this threat affected the community, including local, state, and federal resources that were brought in to restore normal business and life. Include any media examples that discussed either good or poor reactions by stakeholders and approximately how long the area was directly impacted compared to the previous historical timelines for this type of threat?
In: Nursing