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A new process for producing synthetic diamonds can be operated at a profitable level only if the average weight of synthetic diamonds is greater than 0.5 karat. To evaluate the profitability of the process, 38 synthetic diamonds are generated with a mean of 0.52 karat and a standard deviation of 0.0655 karat. Is there sufficient evidence to indicate that the average weight of synthetic diamonds produced by the new process is greater than 0.5 karat? Use α = 0
a) Define the parameter of interest and set up the hypotheses in terms of the parameter.
b) Briefly explain why the t statistic should be used in this case
c) Compute the value of the test statistic
d) What conclusion can we draw? use the p-value approach
Run the simulation model for Hammondsport Savings Bank's single ATM machine with the following assumptions: 1. Interarrival time between two customers is a uniform probability distribution
Find the expectation and standard deviation of the number of securities in your portfolio that gained value.
What is the probability that 3 people will have serious medical issues with their medicine? Give answer to 3 decimal places.
What are confounds? Give an example of a design that has three confounds. Describe three ways to alter the design to address these confounds and explain the advantages and disadvantages of each.
assume that the population distributions of times in minutes for two different skiers to race the same course are
Is this hypothesis test a right-tailed , left-tailed, or two-tailed test? Explain why you chose that kind of test in this situation.
For time-invariant systems, show that (A, B) is controllable if and only if (-A, B) is controllable. Is this true for time-varying systems?
From an initial inspection of the data and the residuals do you think a data transformation
Find the mean and standard deviation of the transformed data. Note: There are 365 days in a year.
Find the probability that a randomly selected part from this supplier will have a value between 85.3 and 109.7 inches.
in addition martinez has decided that there should be at least six ads on tv or radio or some combination of those two.
Predict the monthly labor hours required when the X-ray exposures are 56,194, the bed days are 14,077.88, and the average length of patients' stay is 6.89.
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