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Problem 1
Assume that breast cancer affects .8 percent of the female population between 40 and 50 years of age. There are two kinds of test results: true positive (you have it) and false positive (the test indicates you do have it, but you really do not). Assume Mammograms are 90% accurate at spotting people who have breast cancer (true positive), and are 93% accurate at spotting people who do not (true negative). What are the false negative and false positive accuracies? If a female tests positive for breast cancer, compute the likelihood that she indeed has the cancer.
Problem 2
A pair of dice is rolled. The sum of the faces on top is observed. What are the expectation, variance, and standard deviation of the observed sum? The Expectation and Variance Template attached to the main posting is optional and recommended. Click on Enable Editing. Attach the work as an Excel file to your group.
Draw a standard normal curve and shade the area under the curve that represented the answer to the question; do this on scratch paper and provide a one-sentence description for the assignment).
A political action committee decided to poll its membership to determine if they were in favor of a certain potential law, similar to gun control.
If you randomly assign participants to groups, can you suppose the groups are equivalent at the beginning of the study?
The t-statistics that was obtained in the study of 400 subjects was t=20, rejecting the null hypothesis and showing that the drug has a beneficial effect. Why was management upset?
Find a 95 percent confidence interval for the true proportion of all current Bank of America customers who would respond with a 9 or 10.
The following sample data were obtained from three populations where the variances were not equal, and you wish to compare the populations.
As a manager, what are some benefits of applying probability concepts to solve business-related problems? Would business decisions suffer without probability concepts? Explain.
Predict the number of accidents per year (to the nearest whole number) for a person whose age is 45 and who works 42 hours per week.
Work through a simple regression calculation using intrinsic job satisfaction nd extrinsic job satisfaction. Select thirty data points to use for each group.
On a test whose distribution is approximately normal with a mean of 50 and a standard deviation of 10, the results for three students were reported as follows:
Use a bag of M&M TM candies and perform an examploe Chi-squared analysis based on your random sampling(s). State a hypothesis and a few reasons why it along with your Chi-squared analysis may be different from someone else's findings.
State in each of given cases whether you would expect relationship between given variables to be positive or negative or neither.
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