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In the crime ridden neighborhood, thief is attempting to decide whether or not to rob local bank today. From experience, Thief knows that with probability 0.5 the local bank will have ‘anti-thief protection plan' in which case he will get caught. If he gets caught, he will have to pay 1000 US dollars in bail charges. If he succeeds he will obtain 2000 US dollars. suppose that thief currently has 1500 US dollars in his pocket. Compute expected value of this undertaking (ensure to take into account thief's initial wealth).
Carbon monoxide (CO) emissions for a certain kind of car vary mean 2.4 g/mi and standard deviation 0.7g/mi. A company has 60 of these cars in its fleet. Let y represent the mean CO level for the companies fleet. Estimate the probability that y is ..
Determine r.m.s. error for regression prediction of height at 18 from height at 6.
State a question that can be answered in a "binomial" manner, such as Do you normally read the front page of a newspaper at least 4 times a week?
Using the .02 level of significance, conduct a five-step hypothesis testing procedure to determine if the new processes significantly reduced the wait time.
Why is the F distribution important? How do you determine if a significant difference exists among the groups in ANOVA? How do you determine differences between the groups in ANOVA?
I believe this can be done by plotting out every 3 years average number of people working past 65 since 1997 until now and then making a predictability study as to number of people who will be working over the age of 65 in 2012.
Using Analysis of Variance (ANOVA) test at 5% level if there are important differences in mean sales calls made across the three branches.
Conduct a one-tailed hypothesis test given the information below. A certain brand of Green Energy light bulbs was advertised as having an average illumination life-span of 2,500 hours. A random sample of 50 bulbs burned out with a mean life-span o..
An investor estimates that there is a 1 in 10 chance that a stock purchase will lose 20% of its value, a 2 in 10 chance it will break even, a 4 in 10 chance it will gain 15% and 3 in 10 chance it will gain 30%. What is the expected return.
Based on data from a car bumper sticker study, when a car is randomly selected, the number of bumber stickers and corresponding probabilities are shown below.
Consumer Reports published an article on some sport-utility vehicles they had tested recently. They reported some basic information about each of the vehicles and the results of some tests conducted by their staff.
If 3 different factor levels show a lot of variation between levels this implies:
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