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What would be a good example of a null and alternative hypotheses for a decision relevant in life? What Type I and Type II errors could occur with your decision-making process?
The average monthly gasoline purchase for a family with 2 cars is 90 gallons. This statistic has a normal distribution with a standard deviation of 10 gallons. A family is chosen at random.
Is there evidence to suggest a difference in the mean waiting times at the four body shops?
The use of linear regression is a critical tool for a manager's decision-making ability. Please carefully read the example below and try to answer the questions in terms of the problem context.
Utlizing binomial approximation to normal finding the normal model. A grower claims that only 13 percent of the strawberries he grows are unsatisfactory.
On average a certain intersection results in 3 traffic accidents per month. What is the probability that for any given month at this intersection
Now he wants to know if there is a difference between the three formats. Is there?
Compute z values for each and comment on your findings.
Fitting of multiple linear regression equation - Give a list of the model assumptions for a regression model.
Critically discuss the characteristics of integer programming problems. Provide specific instances in which you would use an integer programming model rather than an LP model. Provide real-world examples.
You read a report that says, "On the basis of the simple random sample of 100 high school seniors that took the SATM test this year, a confidence interval for µ is found to be 512.00 ± 25.76." What was the confidence level used to calculate this..
Suppose you are given a grant to run a controlled experiment. Explain how you would structure the experiment in order to estimate the casual effect of hours on sat.
Use this information to set up a 90 percent confidence interval for the proportion, p of all US workers who play hooky.
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