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A consumer is contemplating the purchase of a new compact disc player. A consumer magazine reports data on the major brands. Brand A has lifetime (TA) which is exponentially distributed with m=.02; and Brand B has lifetime (TB) which is exponentially distrubted with m=.01. (The unit of time is one year).
a. Find the expected lifetimes for A and B. If a consumer must choose between the two on the basis of maximizing expected lifetime, which one should be chosen?
b. Find the probability that A's lifetime exceeds its expected value. Find same for B
c. Suppose one consumer purchases a Brand A compact disc, and another consumer purchases a Brand B compact disc. Find the mean and variance of the average lifetime of the two machines and the difference between the lifetimes of the two machines.
What is the critical F value for a sample of 21 observations in the numerator and 15 in the denominator? Use a two-tailed test and the 0.02 significance level. (Round your answer to 2 decimal places.)
Below are bowling scores for several UMUC statistics professors. Based on output from ANOVA, who is the better bowler (for those of you who don't bowl, a numerically higher score indicates a better score)?
When we say we have confidence level of 95% what do you believe our "margin of error" is?
One school found that 28.6% of all students are liberal. You wonder whether this percentage is different at your school, but don't know whether it's higher or lower. What hypotheses will you test to see if your school significantly differs from th..
A mathematical placement test is given to all entering freshmen at a small college. A student who receives grades below 35 is denied admission to the regular mathematics course and placed in a remedial class.
Currently, quarters have weights that are normally distributed with a mean of 5.670 g and a standard deviation of 0.062 g. A vending machine is configured to accept only those quarters with weights between 5.550 g and 5.790 g.
The width of a confidence interval will be:
he life expectancy of a brand of hair dryer is normally distributed wiht a mean of four years and a standard deviation of 8 months.
Identify the type of sampling (random, systematic, convenience, stratified, cluster) used when a sample of people who smoke is obtained as described below.
Can the company claim that they are faster than the average utility?
This includes knowing how to use an ANOVA for managerial decisions. Present a business example where you would use an ANOVA. State the hypothesis verbally and numerically.
Rob Johnson is a product manager at Diamond Chemicals, which is considering whether to launch a new product line that will require it to build a new facility.
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