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A car dealer is using the number of years customers have owned their vehicles to predict how long it will be before they elect to replace them. The correlation between the two is rxy = -.723 (the longer they have owned their present vehicles, the more quickly they are expected to replace them). The other relevant data are as follows for 32 customers:
Based on the information above, answer the following questions:
Person repeatedly and independent flips the fair coin to decide whether to take the step to left or to right from a point X. Find out expected number of times person returns to X.
What regression equation would you want to do for banking? Give the y and x variables. Explain why this would be important to know.
How much should they charge for a 2 year extended warranty so that they will still make money selling the extended warranties in the long run and keep the cost of the warranties as low as possible to make them more marketable?
What is the probability that no more than two of the three are commercial successes?
Specify the appropriate null and alternative hypotheses if we wish to test the research hypothesis that the mean GHQ score for all employed men exceeds 10.
Calculate the expected value of this undertaking (make sure to take into account the thief's initial wealth).
According to the patient's history and physical examination. What are the chances of herniation if the MRI is positive?
Determine the probability of choosing at random license plate which ends in the even number?
What assumption tests should be used? A fifth grade science teacher want to know if there is a relationship between final exam scores and overall course points after adjusting for a quiz score.
If university officials say that at least 70% of the voting student population supporting the fee increase, what conclusion can be drawn based on a 95% level of confidence?
Suppose the annual consumption of chicken mean is 20.84 pounds per person, and that the standard deviation for the consumption of chicken per person is 9.193 pounds.
What is the "best strategy" ie gives the largest expected value? Is it "one toss", "two tosses", "three tosses", ....etc Justify your answer by showing all steps in reaching your conclusion.
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