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* Based on your experience thus far in this class, what is the probability that you will receive an "A" grade?* Explain the factors you have used in arriving at this probability assessment.* Do you believe that all students in your class will arrive at the same probability assessment that you have? Why or why not?* Explain what is meant by subjective probability. Research the Internet, and provide a business-related example in which subjective probability assessment would likely be used (be sure to cite your sources).* Provide an example of when you have personally used subjective probability assessment or how you might use it in the future.
Explain the logic of what you have done to a person who is unfamiliar with the analysis of variance.
Test for significant differences among weight losses for the five diets, and perform all pair wise comparisons using:
A company's employees are working to create a new energy bar. They would like the two key ingredients to be peanut butter and oats, and they want to make sure they have enough carbohydrates and protein in the bar to supply the athlete.
A soft drink machine outputs a mean of 24 ounces per cup. the machines output is normally distributed with a standard deviation of 2 ounces. what is the probability of filling a cup between 21 and 26 ounces.
A company that produces an expensive stereo component is considering offering a warranty on the component. Suppose the population of lifetimes of the components is a normal distribution with mean of 84 months and standard deviation of 10 months.
Morality Study for a group of four men, the probability distribution for the number x who live through the next year is as given in the accompanying table.
Assume that the measurements came from a normal distribution. The variability of the manufacturing process is unknown means the same as the standard deviation is unknown.
Which of the t-test methods are you going to use and why? Formulate the null and alternative hypothesis. Determine the criterion for rejection or nonrejection of the null. What is the t-statistic for this analysis
What decision would you make based on the expected utility approach? In this case are you a risk taker or a risk avoider?
Brake Pads- A brake pad manufacturer claims its brake pads will last for 38,000 miles. You work for a consumer protection agency and you are testing this manufacturer's brake pads.
Prepare an analysis of how you developed your instrument. The survey instrument is supposed to determine the level of self confidence in the participant.
The mean television viewing time for Americans is 15 hours per week (Money, November 2003). Assume a sample of 60 Americans is taken to further investigate viewing habits. Suppose the population standard deviation for weekly viewing time is Q = 4..
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