Resting heart rates for a population are normally distribute…

Resting heart rates for a population are normally distributed with a mean of 72 bpm and a standard deviation of 10 bpm. If a sample of 16 people is randomly chosen, find the probability their mean heart rate is more than 75 bpm. Hints: Recall the central limit Theorem: The mean of the sampling distribution = mean of the population, but the standard deviation is adjusted (

A company plans to invest in a particular project. There is…

A company plans to invest in a particular project. There is a 35% chance that they will lose $30,000, a 25% chance they will make a profit of $55,000, and a 40% chance that they will make a profit of $0 (which is breaking even). What is the company’s expected profit? Hints: Expected profit =

An educator wants to construct a 95% confidence interval for…

An educator wants to construct a 95% confidence interval for the proportion of elementary school children in Colorado who are proficient in reading. The results of a recent statewide test suggested that the proportion is 0.70. Using this estimate, what sample size is needed to have a confidence interval to within 5 percentage points? Hints: Prior estimate is given; n =