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Samuel Cartwright is suing over a workmanship defect in a data backup system that cost him 3 years of client data. He is suing for $1 million, and the manufacturer is offering him an out-of-court settlement of $450,000, of which Samuel will receive $400,000. Samuel's lawyer advises him that cases like his do not tend to do well if they reach court, but that the company offered to settle to protect its reputation. If he goes to court, he has only a 30% chance of winning anything. If he does win, he has a 65% chance to win the full award, and a 35% chance to win a reduced award of $650,000. If he goes to court and loses, he will incur $50,000 in lawyer's fees and court costs. Create a decision tree to represent this situation. If he goes to court, what is the probability that he will win the full amount? What is the probability that he will win the reduced amount? What is the expected value of going to court? What should Samuel do?
Tthe job is normally distributed and has a mean time of 30 minutes with a standard deviation of 8 minutes. How much time should the employer allow employees to finish the job?
Is the chi-square distribution is a skewed distribution whose mean value is n for degrees of freedom larger than two?
The modem receiver takes a majority vote of the five received bits to estimate the input signal. Find the probability that the receiver makes the wrong decision.
Inverse probability based on normal distribution - The data set has a bell-shaped distribution. Between what two prices do 68% of the houses lie?
the telephone company wants to investigate the desirability of beginning a marketing campaign that would offer
A thorough examination reveals there is nothing wrong with the filling machine. From a statistical standpoint,was there a type error made? If yes, which type? Explain?
Write down a paragraph about the normal distribution. In the paragraph give an example of a distribution that you would judge to be nearly normal and explain why you have made that conclusion.
Consider the results of the hypothesis test you conducted above. Which of the two types of errors could you have committed? Explain the ramification of committing such an error in the context of this scenario.
Generate a training sample of size 100 for each class, as well as a test sample of 5,000 per class. (Best to generate the centroids matrices per class once and store them).
What are some differences between discrete and continuous data? Is the measurement of money continuous or discrete? Explain. Can discrete data be analyzed using a normal distribution? Why or why not?
Please note the following definitions: The prevalence of a disease is the proportion of individuals in a population or subpopulation who have a disease.
a regional track championship has decided that they will invite the fastest 15 of runners in their region runners with
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