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Construct a decision tree and determine the optimum decision for an engineer in business for himself. The potential losses involved are small compared to his working capital. The engineer either may accept the beam design his employee has selected and shown on the plans or he may ask for a revision in the design involving a drafting cost of $100. There is no gain or loss associated with a design which performs satisfactorily. If, however, the long-term creep deflection of the concrete beam is excessive, the engineer estimates a (discounted) future loss of $500 in potential fees and inconvenience to his client (as the client's losses are reflected through professional responsibility in dollar loss to the engineer). The sustained loads are quite well known for this structural type, but uncertainty exists in the long-term effective modulus of elasticity of a reinforced-concrete beam. The engineer is concerned because the likelihood of this modulus being greater than 4000 ksi, i.e., the value needed for satisfactory performance of the present design, is only 0.3. With redesign a value of the modulus of 3000 ksi would be satisfactory. This value will be exceeded, the engineer feels, with odds 3 in 4.
a random sample of 625 sat scores has a mean of 1500. assume that sat scores have a population standard deviation of
What is the difference between failing to reject the null hypothesis and having evidence to support the alternative hypothesis?
Do these data present sufficient evidence to conclude there is a difference in the mean strength of the three types of shocks after 20,000 miles?
suppose that prices of a certain model of new homes are normally distributed with a mean of 150000. find the percentage
This bond has a face value of $1,000 and pays 6.5 percent interest per year. This bond is selling in the market for $1,350.
LINEAR PROGRAMMING QUESTION - How many sets of each type should it produce to make maximum profit? What is the maximum profit
Suppose we are interested in the behavior of sample mean amount borrowed by undergraduates for college tuition, for random samples of a certain size.
Explain what you know about hypothesis and hypothesis testing. Describe the five-step hypothesis-testing procedure? Discuss the concepts of Type I and Type II Errors?
Test for normality using α= 0.05. What inferences can you draw?- Estimate the mean and standard deviation of the waiting times.
Do a complete analysis that includes description of the data and a significance test to compare the mean lengths of the flowers for the three species.
If the probability distribution of X is: Determine the expected value of X? Find out the variance of X?
A particular consumer product is being assembled on production lines A, B, and C, and packaged in batches of 10. Each day, the quality control team selects.
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