Month: July 2015

Consider an experiment designed to determine the effectiveness of a new drug. The drug is given to participants in the treatment group, while participants in the control group receive a…

  Consider an experiment designed to determine the effectiveness of a new drug. The drug is given to participants in the treatment group, while participants in the control group receive…

Identify the sampling method as simple random sampling, systematic sampling, convenience sampling, or stratified sampling. A computer randomly selects 700 names form a list of all registered voters. Those selected…

  Identify the sampling method as simple random sampling, systematic, convenience sampling, or stratified sampling. An IRS (Internal Revenue Service) auditor randomly selects for audits 80 taxpayers in each of…

Simple random sampling:- We choose a sample of items in such a way that every sample of a given size has an equal chance of being selected.   Systematic sampling:-…

For the study described below, identify the population parameter. A researches is interested in the level of stress among emergency-room nurses in the U.S. 275 emergency-room nurses were interviewed to…

For the study described below, identify the sample. A bank manager wants to know the average amount of time customers of his bank have to wait in line. 400 customers…

For the study described below, identify the population. A manufacturer of light bulbs wants to determine the average lifetime of its 75-watt light bulbs. Among 120 randomly selection 75-watt light…

Given the annual interest rate and the compounding period, find I, the interest rate per compounding period. 12% compounded monthly.   Solution:-   The interest rate per compounding period is…

  Use the continuous compound interest formula to find the indicated  value. P = 4000, r = 4.35%, t = 5 years , A = ?   Solution:-   If…