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Question: Two builders, A and B, are competing for a contract to construct a new office block. Each can bid either £3.5 million or £4 million for the job. The builder with the lower bid will win the contract and will be paid the value of their bid once the building is finished. If both bids are equal, a fair coin is tossed to decide who should win the contract. Builder A reckons that his real cost of completing the job is £2 million, whereas builder B reckons it will cost him 2.5 million to complete it.They decide to discuss their bids.
(i) Construct the table of pay-offs (i.e the expected profits) to the two builders and find the maximum profit each can reasonably expect to get.
(ii) Deter-mine the Shapley solution.
One item on a questionnaire asks, "How many siblings (brothers and sisters) did you have when you were a child?" A researcher computes the mean, the median, and the mode for a set.
Develop one research question and formulate a hypothesis which may be tested with linear, bivariate regression analysis.
Discuss the use of standard deviation. Explain how it might be useful to you in your research and how you would explain results using standard deviation.
What are the five steps for calculating probabilities of events? Please apply these steps to an example.
1.according to recent reports 30 of americans are now classified as obese. a sample of 800 americans found that 278 of
What is the best prediction for the number of complaints that will be registered for an installer who takes five sick days during the period and correlation between number of sick days and number of customer complaints statistically ..
Use the hypergeometric formula to find this probability. The lottery commission also pays if a contestant matches 4 or 5 of the 6 winning numbers. Hint: Divide the 44 numbers into two groups, winning numbers and nonwinning numbers.
Use an alpha level of .01 and test the hypothesis that the two methods are producing the same mean.
If statistically significant, do you believe the difference is large enough to be significant? If so, to whom, and explain why? Is normality assumption fulfilled? Describe.
What statistical test did the researchers use to determine if there was a statistically significant difference in levels of self-esteem between the boys and the girls?
The mean to be $19 and the standard deviation to be 6.8. Find the best point estimate of the population mean and the 95% confidence interval of the population mean.
Using the standard normal table, the total probability to the right of z=2.18 and to the left of z=1.75 is?
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