RevisionExtraQs.docx - Revision extra questions i ii...

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Revision extra questions Question 1 A survey by KRC Research for U.S. News reported that 37% of people plan on spending more on eating out after they retire. If 8 people are randomly selected, determine the following probabilities. i. Exactly 5 people plan on spending more on eating out after they retire. (0.0971) ii. At least 1 person plan on spending more on eating out after they retire. (0.9752) Question 2 A marketing research firm wants to conduct a survey to estimate the average amount spent on entertainment by each person visiting a popular resort. The people who plan the survey would like to be able to determine the average amount spent by all people visiting the resort to within $120, with 95% confidence. From past records of the resort, an estimate of the population standard deviation is $400. What is the minimum required sample size? (42.68≈43) Question 3 The makers of a medicated facial skin cream are interested in determining the percentage of people in a given age group who may benefit from the ointment. A random sample of 68 people revealed 42 successful treatments.
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Christopher Reinemann
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