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Explain the basic idea for performing a hypothesis test, based on independent samples, to compare two population proportions.
Why is statistical significance not necessarily of practical important difference to a business decision? Give an example and explain.
If the probability of a newborn child being female is 0.5, find the probability that in 100 births, 55 or more will be female. Use the normal distribution to approximate the binomial distribution.
In a bumper test, three types of autos were deliberately crashed into a barrier at 5 mph, and the resulting damage (in dollars) was estimated. Five test vehicles of each type were crashed, with the results shown below. Research question: Are the mean..
Probability is 0.5% that home will suffer the 50% loss due to fire. If we ignore all other partial losses, what premium must insurance company charge for policy just to break even?
Illustrate out the term control chart? Critically discuss the grand mean, the UCL and the LCL of a control chart for the mean?
Suppose that 1 out of 500 infant's are born with Down's Syndrome.
You are investigating the flight characteristics of different kinds of birds. You collect a sample of 33 European swallows (Hirundo rustica) and measure their air-speed velocity in a borrowed wind tunnel.
Formulate and solve a linear programming model for Julia that will help you advise her on which offer to accept from the director if any. Julia's younger brother who is a freshman at Tech wants to help Julia increase her profits by loaning her so..
Determine the following probabilities: Events A and B are mutually exclusive events defined on common sample space.
Suppose the mean time that was observed for the sample last month was 4 hours 44 minutes (284 minutes). What is the probability of seeing a sample mean this high or higher?
A multiple choice test consists of 25 questions with possible answers of a, b, c, d, and e. Estimate the probability that with random guessing, the number of correct answers is between 3 and 10 inclusive.
Explain the differences between qualitative and judgmental statistical time-series, and explanatory/causal forecasting models.
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