A sample of 25 patients in a doctor’s office showed that the…

A sample of 25 patients in a doctor’s office showed that they had to wait an average of 35 minutes with a standard deviation of 10 minutes before they could see the doctor. Provide a 98% confidence interval estimate for the average waiting time of all the patients who visit this doctor. Assume the population of waiting times is normally distributed.

All the employees of ABC Company are assigned ID numbers. Th…

All the employees of ABC Company are assigned ID numbers. The ID number consists of the first letter of an employee’s last name, followed by four digits ranging from 0 to 9.a.How many possible different ID numbers are there?b.How many possible ID numbers exist for employees whose last name starts with an “A”?

Delicious Candy markets a two-pound box of assorted chocolat…

Delicious Candy markets a two-pound box of assorted chocolates. Because of imperfections in the candy making equipment, the actual weight of the chocolate has a uniform distribution ranging from 31.8 to 32.6 ounces.a. Define a probability density function for the weight of the box of chocolate.b. What is the probability that a box weighs (1) exactly 32 ounces; (2) more than 32.3 ounces; (3) less than 31.8 ounces?c. The government requires that at least 60% of all products sold weigh at least as much as the stated weight. Is Delicious violating government regulations?

An investment advisor recommends the purchase of shares in I…

An investment advisor recommends the purchase of shares in Infogenics, Inc. He has made the following predictions:P(stock goes up 20% | rise in GDP) = 0.6P(stock goes up 20% | level GDP) = 0.5P(stock goes up 20% | fall in GDP) = 0.4An economist has predicted that the probability of a rise in the GDP is 30%, whereas the probability of a fall in the GDP is 40%.a. Draw a tree diagram to represent this multiple-step experiment.b. What is the probability that the stock will go up 20%?c. We have been informed that the stock has gone up 20%. What is the probability of a rise or fall in the GDP?