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A contractor is considering a sale that promises a profit of $31,000 with a probability of 0.7 or a loss (due to bad weather, strikes, and such) of $13,000 with a probability of 0.3. What is the expected profit?
In 1,000 samples, assuming that H 0 is true, how many times would you expect to commit Type I error if:
A breakdown of the responses is shown in the accompanying table. Is there evidence at the 10% level to infer that the responses differ among the three groups of employees?
Do the data indicate a significant difference between the frequency distributions for male and females? Test at the .05 level of significance and describe the difference.
The ages of circulating pennies are right skewed. Most circulating pennies were minted relatively recently, and extremely old pennies are rare. Assume the ages of circulating pennies have a mean of 12.2 years and a standard deviation of 9.9 years.
Given this information, what would sampling error be if sample including seven values in top row were used to calculate sample mean?
A financial planner wants to compare the yield of income and growth mutual funds. Fifty thousand dollars is invested in each of a sample of 35 income and 40 growth funds
A random sample of n = 4 scores is selected from a population with µ = 80 and σ = 20. On average, how much difference would you expect between the sample mean and the population mean?
Explain the difference of your outlook on statistics after having studied it for whatever period of time you have done so as oppose to the time before taking up the study.
Explain the assignment model and how it is similar to a transportation problem. Give a real-world example of an assignment model to describe what is transported where.
The objective is to maximize the expected net return. Define the optimal value function and give the optimality equation. Find the optimal policy.
From these we calculate = 129.44; = 122.65; sx = 9.15; sy = 11.02. Perform the test H0: against the alternative H1:, using the two sample t-test, and state any assumptions you may require to do this test.
Compute the mean number and median number of apples in a bag.
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