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An elevator in the APM building can carry about 20 people with a total weight of 3000 lbs. Suppose that the average weight of the campus community is 150 lbs with a standard deviation of 55 lbs.
(a) Suppose that 20 people get into the elevator estimate the probability that the elevator will be overloaded?
(b) To insure that the probability that the elevator is not overloaded is no more than 2.5%, what total weight should the elevator be engineered to handle?
(c) To insure that the probability that the elevator is not overloaded is no more than 0.5%, what total weight should the elevator be engineered to handle?
Six houses were selected and each appraiser provided an appraisal for each of the six houses. What would be the best statistical test to use for the analysis of this data?
Use the Poison distribution to find the indicated probabilites. Find the probability of 6 dandelions in an area of 1 m ²
Compare two models. Model #1 has an r-squared of .25 and an adjusted r-squared of .10. Model #2 has an r-squared of .20 and an adjusted r-squared of .14. Given this information, what model should you use?
Use the above information to calculate the number of watches (units) and the sales dollars we need in order for our flea market business to break even for the day.
X is a normally distributed random variable with mean 10 and variance 24. a. Find P(X bigger 14) b. find P(8 smaller X smaller 20)
Compare among expected monetary approach also expected utility approach. Sketch the brokers utility curve and describe what it says about her risk profile.
Determine whether there are differences in the means of the number of cereal leaf beetles, in terms of colour preference, based on the numbers trapped on the different coloured boards.
A geologist has collected 10 specimens of basaltic rock and 10 specimens of granite. The geologist instructs a laboratory assistant to randomly select 15 of the specimens for analysis.
question suppose we wished to know if model a or b was safer based on the results of the safety tests described in
he Department of Motor Vehicles (DMV) can service customers at a rate of 20 per hour (or 1/3 per minute) when it comes to license renewals. The service time follows an exponential distribution.
While purchasing a home, location is everything. As a buyer, one should be aware of the cost of living in the area of choice, as well as expect a higher cost the closer to the center of town you get.
Demand for a popular athletic shoe is nearly constant at 800 pairs per week for a regional division of a national retailer. The cost per pair is $54.
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