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A company rents time on a computer for periods of t hours, for which it receives $600 an hour. The number of times the computer breaks down during t hours is a random variable having the Poisson distribution with λ = (0.8)t, and if the computer breaks down x times during t hours, it costs 50x2 dollars to fix it. How should the company select t in order to maximize the expected profit?
A sample of 40 observations is selected from one somewhat normal population. The sample mean is 102 and the sample standard deviation is 5.
A hypothesis test is to be used to help determine if there is a difference between the proportion of 2 year college students and private university students that work at least 20 hours per week.
I'm having difficulty understanding and showing in layman terms or simple terms an example and comparison between the ANOVA test, Kruskal-Wallis test, and T-Test Statisitc.
In the case of Castenedav. Partida, it was found that during a period of 11 years in Hilda County, Texas, 870 people were selected for grand jury duty, and 39% of them were Americans of Mexican ancestry.
Find a 99% confidence interval estimate of the proportion of people who say that they voted.
The goal at U.S. airports handling international flights is to clear these flights within 45 minutes. Let's interpret this to mean that 95 percent of the flights are cleared in 45 minutes
Suppose a well-known baseball player states that, at this stage of his career, he is a "300 hitter" or better. That is, he claims that he gets a hit in at least 30% of his at-bats. Over the next month of the baseball season, this player has 105 at..
Decision rule which chooses alternative associated with smallest maximum opportunity loss is?
Suppose we have run a regression on 48 months of data and the regression equation is Y = 50000 + 1000*x (where x is the month number).
The percentage of physicians who are women is 27.2%. In a survey of physicians employed by a large university health system, 48 of 120 randomly selected physicians were women. Compute the test value.
Solve following for x, expressing answers as compound fractions and integers where appropriate:
How large a sample should be selected in order to estimate the population proportion to within a margin of error of 0.02 with 97% confidence. The sample proportion from the preliminary sample was 0.18.
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