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A bonding company want to insure a construction projects completion. If the project is cancelled due to the contractor's lack of performance, the bonding company will cover the entire expenses of $30,000, and it will pay only half of this amount if it is cancelled for any other reason.
The bonding company assigns a probability of 0.15 to the contractor's performance and 0.05 to any other reason.
If the bonding company will charge $1,000 more than its expected payment, what should be the cost [premium] of this policy?
The odds ratio between treatments (A, B) and outcome (death, survival) equals 2.0. What do you think about the following interpretation: "The probability of death with treatment A is twice that with treatment B". If you think, the above interpreta..
Find out the probability that at least one of the CD's is defective?
Why do we do power calculations with single sample z test? A) Because we can use Z area tables to calculate the power. B) Because comparing a sample mean against a population mean is very powerful
Estimate using three day weighted moving average. Estimate sales for the next day using a three-day weighted moving average where the weights
Compute and interpret each of the statistics in parts(a) through (f) Mean and Median.
At a .10 level of significance, use Stat Tools (or Excel) to test the sponsors' hypothesis. State the null and the alternative hypotheses and the decision rule. Finally, discuss your findings.
Based on this sample information, create a 90% confidence interval for population mean yearly premium.
Compute a 95% confidence interval for the average time spent in training per year at this firm. Develop a graph showing the data below as a frequency distribution. Note the mean and the confidence interval on the graph.
What is the 95% confidence interval for the proportion of smokers in the population (to 4 decimals)?
You can allow the cup to overfill 4% of the time. What amount should you set as the mean amount of coffee to be dispensed?
The average speed of greyhound dogs is about 18.8 meters per second. A particular greyhound breeder claims that her dogs are faster than the average greyhound. In a sample of 45 dogs, they ran, on average, 19.2 meters per second with a standard de..
Find out and interpret coefficients of correlation and determination for U. S. prices versus Canadian prices.
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