The Chamber of Commerce in a Canadian city has conducted an evaluation of 300 restaurants in its metropolitan area. Each restaurant received a rating on a 3-point scale on typical meal price (1 least expensive to 3 most expensive) and quality (1 lowest quality to 3 greatest quality). A crosstabulation of the rating data is shown below. Forty-two of the restaurants received a rating of 1 on quality and 1 on meal price, 39 of the restaurants received a rating of 1 on quality and 2 on meal price, and so on. Forty-eight of the restaurants received the highest rating […]

The manager of the commercial mortgage department of a large bank has collected data during the past two years concerning the number of commercial mortgages approved per week. The results from these two years ​(

The probability that a randomly selected 40-year-old male will live to 41 years old is 0.99718 and the probability that a randomly selected 40-year-old female will live to 41 years old is 0.99856 (National Vital Statistics Report, Vol. 48, No. 18) Question 1. A life insurance company has sold insurance policies to 100 40-year-old males. What is the probability that at least one of these males will not live to be 41 years old? Assume that deaths of 40-year-old males are independent. (use 3 decimal places in your answer) Question 2. A life insurance company has sold insurance policies to 100 40-year-old […]

Question 3 Part a) The mean of the sample was calculated as 500. The sample of 25 observations was randomly drawn from a population whose standard deviation is 15. Estimate the population means with 99% confidence. Part b) A random sample of 5 observations was drawn from a normal population. The sample mean and standard deviation are X =175 and s=30. Estimate the population mean with 90% confidence.

An interval estimate for the average distance car tyres lasted during their “lifetime” was reported to be 32168 km to 37892 km. This interval estimate was based on a sample of 52 typres. The variance of the lifetime was determined from previous studies to be 50865424 km squared. What level of confidence can be attributed to this interval estimate? State your answer as a percentage, correct to the nearest whole number.