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Let X1...Xn be a random sample from a gamma distribution with parameters alpha and beta. Derive the equations whose solution yields the maximum likelihood estimators of alpha and beta. do you think they can be solved explicitly? show that the mle of the mean = (alpha)x(beta) is mean(hat)=X(bar)?
Take the derivative of the gamma distribution and set it equal to zero and solve for alpha and beta to find the mle?
Imagine you are the CEO of a local bank whose credit card holders engage in 1 billion credit card transactions per year; that the likelihood of a fraudulent transaction is 2%
Utilize the given degree of confidence also sample data to construct a confidence interval for population proportion.
A group of 47 randomly selected students have a mean score of 20.2 with a standard deviation of 4.6 on a placement test. Construct a 90% confidence interval for the mean score, , of all students taking the test.
When groups are more alike than different, ANOVA assesses the significance of the difference between two groups. When groups are unalike, will findings be more significant?
If he were to randomly select 120 corks from the next box, then how many of these corks would John expect to be undersized?
It seems that simulation could handle any situation or study. But is that always true? Discuss instances in which a simulation would be important and useful, and then a situation in which a simulation would not be appropriate.
Computer stocks currently provide an expected rate of return of 16%. Dell, a large computer company, will pay a year-end dividend of $2 per share.
Hypothesis test for the difference between two means - To make the data comparable, certain features, such as the deductible amount and limits of liability, are standardized.
Give critical test statistic and compute sample test statistic. Test null hypothesis at alpha level .01.
The sample mean of the sampling distribution of a statistic is 6 and the standard error of the statistic is 1.03. What is the probability that xbar > 7.52?
Twenty subscribers were surveyed, it found that the annual health insurance premiums for a family with coverage through an employer averaged $10,979.00. The standard deviation of the sample was $1000.00.
what is the appropriate procedure to test for significant difference in means between two groups? Implement the procedure using the critical-value method and what is the p-value?
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