A survey of 250 households showed 26 owned at least one snow blower. Find a point estimate for p, thepopulation proportion of ho
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Answer:
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Step-by-step explanation:
A sugar refinery has three processing plants, all receiving raw sugar in bulk. The amount of raw sugar (in tons) that one plant can process in one day can be modelled using an exponential distribution with mean of 4 tons for each of three plants. If each plant operates independently,a.Find the probability that any given plant processes more than 5 tons of raw sugar on a given day.b.Find the probability that exactly two of the three plants process more than 5 tons of raw sugar on a given day.c.How much raw sugar should be stocked for the plant each day so that the chance of running out of the raw sugar is only 0.05?
Answer: The mean (μ) of the plants is 4 tons. The probability density function of an exponential distribution is given by:
a) P(x > 5) =
b) Probability that exactly two of the three plants process more than 5 tons of raw sugar on a given day can be solved when considered as a binomial.
That is P(2 of the three plant use more than five tons) = C(3,2) × [P(x > 5)]² × (1-P(x > 5)) = 3(0.2865²)(1-0.2865) = 0.1757
c) Let b be the amount of raw sugar should be stocked for the plant each day.
P(x > a) =
But P(x > a) = 0.05
Therefore:
a ≅ 12
Answer:
1.734
Step-by-step explanation:
Given that:
A local trucking company fitted a regression to relate the travel time (days) of its shipments as a function of the distance traveled (miles).
The fitted regression is Time = −7.126 + .0214 Distance
Based on a sample size n = 20
And an Estimated standard error of the slope = 0.0053
the critical value for a right-tailed test to see if the slope is positive, using ∝ = 0.05 can be computed as follows:
Let's determine the degree of freedom df = n - 1
the degree of freedom df = 20 - 2
the degree of freedom df = 18
At the level of significance ∝ = 0.05 and degree of freedom df = 18
For a right tailed test t, the critical value from the t table is :
1.734
Total money that will be in the account in 10 years = 45000
Time period = 10 years
Rate of interest = 5% or 0.05
n = 12 (number o times the money is compounded)
Let the principal (p) be = x
Formula for compound interest =
Putting the values in the formula we get,
Hence, the principle amount should be approximately $27881.