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You are in the market for a new car. An important characteristic is the lifespan of the car. (Define lifespan as the number of miles driven until the car breaks down, requiring such extensive repairs that it would be cheaper to buy an equivalent depreciated machine.) Assess your utility function for automobile life span over the range from 40,000 to 200,000 miles.
Discuss how the statistical application of Pearson r is used for hypothesis testing. Through application of the Spearman Correlation discuss what type of data the Pearson formula can be used for.
a project has the following cash flows. what is the internal rate of return? year 0 1 2 3 cash flow -121000 68150 42200
h.g. wells once said statistical thinking will one day be as necessary for efficient citizenship as the ability to read
Generate a testable null statistical hypothesis and an alternative statistical hypothesis. Select an alpha level of .05, .01, or .001 and justify your choice.
To determine the efficiency of the current ticket operation, Mike wishes to examine several queue operating characteristics.
polychlorinated biphenyls pcbs are used in the manufacture of electrical transformers and pose a great danger to health
Determine r.m.s. error for regression prediction of height at 18 from height at 6.
Evaluate the significance of the hypothesis that the randomized algorithm has a lower average runtime than the known comparison algorithm. As before, explain and list your calculations, test choices, and conclusion drawn.
what is the probability that a salesperson selected at random will have an excellent potential for advancement given
In the U.S., there are two sources of national statistics on crime rates: (i) the FBI's Uniform Crime Reporting Program, which publishes summaries on all crimes reported to police agencies in jurisdictions covering virtually 100% or the population..
On the same chart, produce a graph showing the original probability mass function, and a line graph showing your selected continuous probability density function.
Construct a 95% Confidence interval for diffrence between the two populations. At the alpha equals .10 level of significance, can the firm conclude that Chicago households buy more online than Milwaukee.
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