Four in Ten Americans Who Travel by Car Look for Gas

question 7

Essay

Four in ten Americans who travel by car look for gas and food outlets that are close to or visible from the highway. Suppose a random sample of n = 20 Americans who travel by car are asked how they determine where to stop for food and gas. Let x be the number in the sample who respond that they look for gas and food outlets that are close to or visible from the highway.
Calculate the mean of x.
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Calculate the variance of x.
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Calculate the interval .
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What values of the binomial random variable x fall into this interval?
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Find .
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How does this compare with the fraction in the interval for any distribution? For mound-shaped distributions?
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Definitions:

Temporary Accounts

Income statement (and sometimes Dividends Declared) accounts that are closed to Retained Earnings at the end of the accounting period.

Balance Sheet

A summary report of a company's financial position, including assets, liabilities, and the equity of its shareholders, at a distinct time.

Income Statement

A financial statement that reports a company's financial performance over a specific accounting period, detailing revenues, expenses, and profit or loss.

Year-End Closing Process

The Year-End Closing Process involves finalizing a company's financial activities for the year, updating accounts, and preparing financial statements.