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a. The firm in question 4 gives no raises to the clerks and junior accountants, while the owner's take increases to $455,000. How does this change affect the mean? How does it affect the median?
b. A discussion of extreme weather reports that: "In most states, hurricanes occur infrequently. Yet, when a hurricane hits, the losses can be catastrophic. Average annual losses are not a meaningful measure of damage from rare but potentially catastrophic events," Why is this true?
For each of the following situations, indicate the appropriate measure, incidence rate or prevalence rate and the numerical value of the rate.
If the lowest score you can earn and still be eligible for employment is an 84, what is the mean score for the exam? Round your answer to the nearest tenth.
Fair die is rolled 10 times. Determine the probability that the odd number (1, 3 or 5) will occur less than 4 times?
How large should n be so that a 90% confidence interval for µ has a margin of error and What is the P-value for a test of the hypotheses
A local bank reported to the federal government that its 5,246 saving accounts have a mean of $1,000 and standard deviation of $240.
The probability distribution of a random variable X is shown below, where X represents the amount of money (in $1,000s) gained or lost in a particular game of Blackjack.
At a 5% level of significance, is there enough evidence from this survey to conclude that more than half of all adults would rather have $100 than a day off?
A human society claims that less than 36% of US. households own a dog. In random sample of 397 U. S. households, 151 say they own a dog. At mean=0.03, is there enough evidence to support the society's claim?
What should ING's General Counsel do to minimize ING's expected costs?
Use this information to construct a probability table, and then calculate each of the following probabilities:
The Bunte Auto Repair Shop received a shipment of four carburetors. One is known to be defective. If two are selected at random and tested.
A researcher was interested in determining whether incentives affect the response rate in surveys. A simple random sample of 50 adult residents of a large city was selected. All were mailed a survey and promised a check upon returning a completed ..
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