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A Govt Committee is considering the economic benfits of a programme of preventative flu vaccinations. If vaccinations are not introduced, then the estimated cost to the Govt if the flu strikes in the next year is $7 M with a probability of 0.1, $10 with a probability of 0.3 and $15M with a probability of 0.6. It is estimated that such a programme will cost $7 M and that the probability of the flu striking in the next year is 0.75
One alternative open to the committee is to institute an "early warning" monitoring scheme (costing $3M) which will enable it to detect an outbreak of flu early and hence institute a rush vaccination programme (costing $10M because of the need to vaccinate quickly before the outbreak spreads)
A time series with forecast values and error terms
a. If n=8 for both samples, find each of the sample variances, and calculate the pooled variance. Because the samples are the same size, you should find that the pooled variance is exactly halfway between the two sample variances.
in table 2 in p. 175 hatchett and park 2004 presented the correlations among optimism lot-r total and positive items
the pdf for frechet distribution is ltbrgtfxa?a x-?-a-1 exp-x-?-a ltbrgtthen how we can calculate the cdf for frechet
Identify the correct order of operations for calculation of basic math problems
A certain disease is found in one person in 5000. If a person does have the disease, the test will show a positive result 93% of the time. If a person does not have the disease, the test in 1 out of 500 cases will give a false positive result..
The mean price of mid-sized cars in a region is $32,000. A test is conducted to see if the claim is true. State the Type I and Type II errors in complete sentences. Type I: _____________________________________________Type II: _______________________..
A few days ago you answered a question I had on probability. The original equation was R(t)=a^(-bt). In your answer you changed it to R(t) = a* e^(-bt). Can you explain why you added the e?
Explain what type of data you would use to estimate the model - time series, cross-section, or panel data and Identify the dependent variable and the independent variables
The thickness of a printed circuit board is an important quality parameter. Data on board thickness (in inches) are given in Table 6E.4 for 25 samples of three boards each. (a) Set up and R control charts. Is the process in statistical control? (b) E..
Develop a Pareto chart to identify the more significant types of rejection.
Sears conducted a quality control study on the car batteries that customer purchase off of the shelf. 50 batteries are selected and it is determined that 6 are defective and 44 are functioning properly. This is a binomial experiment. Select the appro..
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