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A new product has the following profit projections, associated probabilities, and indifference probability:
Profit Probability Indifference Probability
$150,000 .10 --
$100,000 .25 .95
$50,000 .20 .70
0 .15 .50
-50,000 .20 .25
Create a scatter plot for those data. Based on scatter plot, how would you explain relationship between the two variable.
Determine the range and standard deviation of the times.
If the manager decides to spend $3000 on advertising, based on the simple linear regression results given above, what would the estimated sales be?
Find out 90% confidence interval for mean grade of all the students in the class.
Test the claim that the Snickers bars have a mean weight that is different than 20.1 grams. Because shutting down the plant is very expensive, test the claim at the .01 level of significance.
By how much does the standard error of x-bar change if the sample is increased to 100?
A survey is planned to determine the mean annual family medical expenses of employees of a large company. The management of the company wishes to be 95% confident that the sample mean is correct to within plus-or-minus $50 of the population mean.
95% of breaking strengths will be contained between what two values symmetrically distributed around mean?
Use the table to determine whether the correlations are significant and how you would interpret the results. The correlation between speed and strength for 20 women is .567. Test these results at the .01 level using a one-tailed test.
What are the primary differences between investments in corporate stock versus corporate bonds? Since bonds pay interest, does that imply the individuals risk exposure is less for investing in bonds rather than stock?
The response time for Denver police to respond to emergency calls is 8.4 minutes with a standard deviation 1.7 find the probability that the response time for a call between 5 and 10 minutes.
State the null and alternate hypotheses if you want to determine whether the mean amount spent is higher for men than for women,
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