Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Three firms carry inventories that differ in size. Firm A's inventory contains 2000 items, firm B's inventory contains 5000 items, and firm C's inventory contains 10,000 items. The population standard deviation for the cost of the items in each firm's inventory is = 144. A statistical consultant recommends that each firm take a sample of 50 items from its inventory to provide statistically valid estimates of the average cost per item. Managers of the small firm state that because it has the smallest population, it should be able to make the estimate from a much smaller sample than that required by the larger firms. However, the consultant states that to obtain the same standard error and thus the same precision in the sample results, all firms should use the same sample size regardless of population size.
1.Using the finite population correction factor, compute the standard error for each of the three firms given a sample of size 50.
2.What is the probability that for each firm the sample mean will be within 25 of the population mean?
Provide an example of three events that would be mutually exclusive. Are these events also exhaustive? Then, give an example of three events that would be exhaustive. Are these exhaustive events also mutually exclusive?
For each of the following situations, indicate what the general impact on the Type II error probability will be:
Develop a multiple regression model with categorical variables that incorporate seasonality for forecasting sales using the last three years of data in the Excel file New Car Sales.
The following data were obtained from an independent measures study. Determine if there is a significant difference between the treatments. Use a significant level of .01.
Is there evidence to suggest that the process average differs from the target value?
Iit is known that signal change in this brain area is normally distributed with mean of 35 and standard deviation of 10. By using .01 level, what must researcher conclude?
Determine the sum of these probabilities , and why is the number less than 1
Income Trevor is interested in purchasing the local hardware/sporting goods store in the small town of Dove Creek, Montana.
It is estimated that the probability that the general population will live past their 85th birthday is 5.4%. Use the standard normal distribution to approximate this Binomial problem and answer the following questions.
A researcher testing the affects of music on studying conducts a within participants design. The results are as follows: music 6,7,6,5,6,8,8, and no music 10,7,8,7,7,9,8
A die is rolled 60 times. An "ace" is the side with one dot. Use the normal approximation to estiate the chance of getting exactly 12 aces.
Construct a payoff table for Mountain Ski's decision problem of how many pairs of skis to order. What is the best decision from an expected value basis?
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd