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Question: You are making several runs of a simulation model, each with a different value of some decision variable (such as the order quantity in the Walton calendar model), to see which decision value achieves the largest mean profit. Is it possible that one value beats another simply by random luck? What can you do to minimize the chance of a "better" value losing out to a "poorer" value?
Your manager is asking for the average viscosity of a product that you produce in a batch process. Recorded below are the 12 most recent values, taken from consecutive batches. State any assumptions, and clearly show the calculations that are requ..
statistics released by the national highway traffic safety administration and the national safety council show that on
Least squares method for estimating the trend values - Estimate the trend and plot on the graph.
You want to estimate today's mean temperature, so you make a series of measurements (taken as a sample) throughout the day. The mean of these measurements is 63 degrees Fahrenheit, and their standard deviation is 3.4 degrees Fahrenheit.
Do not include complex models which receive less support from the data than their simpler counterparts. How do we find the models to include in this subset?
deduce that there exists a constant C such that for all
The probability that her ?rst ?ight leaves on time is 0.15. If the ?ight is on time, the probability that her luggage will make the connecting ?ight in Montreal is 0.95, but if the ?rst ?ight is delayed, the probability that the luggage will make ..
Perform the chi-square test for a uniform distribution. At α = . 01, does this sample contradict the assumption that readership is uniformly distributed?
The data in the following tables are some of the results of an Internal Revenue Service survey of taxpayers. Analyze and interpret the data.
Describe the omitted variable bias problem in linear regression. How does an instrumental variable addresses this problem? Explain the assumptions under which an instrumental variable is valid. What is the interpretation of the coefficient on the ..
Time it took then to change a water pump was 18 minutes. The SD of the sample was 3. Find the 99% of the interval of the true mean.
The heights of 18 year old men are approximately normally distributed with mean 68 inches and a SD of 3 inches.
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