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Develop a decision tree for the case of a company operating at full capacity and with product demand rising. The choice is between new equipment and overtime. A 20% rise in sales is anticipated, bringing an increase in profits of $300,000 with new equipment and $150,000 with overtime. But volume might drop 5%; therefore, these are two possible results. If there were a sales drop, profit would be $220,000 with new equipment and $175,000 with overtime. The probabilities are 60% for a sales increase and 40% for a sales decrease.
Computing probability values using normal distribution - Find the proportion of the observations will fall in the interval from 40 to 60?
To determine whether the mean is greater than 16 ounces using large sample test.
Given the following frequency distribution, find the mean, variance, and standard deviation. Please show all of your work so I can see how to do this for the future. This one is good example of what I can do in future for real estate.
At the .01 level of signiicance, is the true mean greater than 10?
The null hypothesis is the alternative is Use the given sample data to find out the P-value for the hypothesis test. Provide an interpretation of the P-value.
Find the probability of a Type II error if in fact the mean waiting time is actually 9.8 minutes.
Test of claim for the statement made for a given paired sample:
In each of the following scenarios, which would be larger, the mean or median, or would the mean and median be about the same? Provide reasoning--think about the shape of the histogram for the data and how the shape would affect the relationship b..
An article in Parenting magazine reported that 60% of Americans needed a vacation after visiting their families for the holidays. Suppose this is the true proportion of Americans who feel this way. A random sample of 100 Americans is taken.
Advertisers need to know which age groups are likely to see their ads. Purchasers of 120 copies of Cosmopolitan are shown by age group Perform the chi-square test for a uniform distribution at α = .01
According to Bienayme-Chebyshev rule, what percentages of these funds are likely to be within ±2 standard deviation of mean?
The conservative degrees of freedom for the t distribution are and The standard error, conservative degrees of freedom
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