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Question: Management of an airline knows that 0.5% of the airline's passengers lose their luggage on domestic flights. Management also knows that the average value claimed for a lost piece of luggage on domestic flights is $600. The company is considering increasing fares by an appropriate amount to cover expected compensation to passengers who lose their luggage. By how much should the airline increase fares? Why? Explain, using the ideas of a random variable and its expectation.
Given that 61% of eligible voters actually did vote, find the probability that among 1002 randomly selected eligible voters, at least 701 actually did vote.
1. at a certain high school a random sample of 50 student are chosen for a free 10-week sat prep class they are given a
At the 5% level of significance, can we infer that the population mean weight of athletic men is lower than the population mean weight of non-athletic men by more than 2 pounds?
The sample mean is 25 and the sample standard deviation is 5. Determine a 95 percent confidence interval for the population mean.
An estimate is needed of the mean acreage of farms in Manitoba, Canada. The estimate should be correct to within 100 acres with probability 0.95. A preliminary study suggests that 500 acres is a reasonable guess for the standard deviation of farm ..
Do you believe that the variance of the number of cars sold per month before the announcement is equal to the variance of the number of cars sold per month after the announcement?
Translate the following statements into symbolic form using capital letters to represent affirmative English statements.- If banks charge fees for teller-assisted transactions, then more people will use ATMs;
Due to financial hardship, the Nyke shoe company feels they only need to make one size of shoes, regardless of gender or height. They have collected data on gender, shoe size.
An advantage of the permutation test over the t test for a difference in means, can Permutation tests be used for tests when we believe the two populations differ under the null hypothesis.
Suppose you perform a hypothesis test relating to environmental toxins in a thriving small city in West Virginia. Discuss the risk to all interested parties in the scenario if you make a Type I error and if you make a Type II error
identify the limitations presented by the study population and the advantages and disadvantages of the statistical analysis used - What is the sample? How did the researchers select their sample?
suppose that two fair i.e. the probability of both heads and tails is 0.5 coins are tossed and we observe the results.
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