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How many samples would be required if we wished to obtain the maximum possible number of samples needed (i.e., we do not want to rely on the 37% estimate from above) with a 95% confidence and 0.03 error?
According to a survey, only 15% of customers who visited the web site of a major retail store made a purchase. Random samples of size 50 are selected.Referring to the information, the average of all the sample proportions of customers who will mak..
Assume that JVC is trying to decide how to rate a new stereo system composed of a receiver, CD player, & speakers. The firm's economists have estimated that 2-different groups will buy these products
Suppose 70% of kids who visit the doctor have a fever, and 15% of kids with a fever have a sore throat. Whats the probability that a kid who goes to the doctor has a fever and a sore throat?
In order to answer the following questions, first draw a density curve describing this distribution. Pay attention to the height of the curve!
One airport had 28% late arrivals. After a new directing system was installed, a sample of 1200 flights had 322 late arrivals. At the .01 level, did the new system lower the rate of late arrivals? List the null and alternate hypotheses.
After researching cysts of a particular type, a doctor learns that out of 10,000 such cysts examined, 1,500 are malignant and 8,500 are benign. A diagnostic test is available which is accurate 80% of the time (whether the cyst is malignant or not)..
Construct a 90% confidence interval for the population average weight of the candies.
In an experimental study of the effects of exercise on stress, participants are randomly assigned to either the no exercise or the exercise conditions. Identify what type of study this is-between-, within-, or matched-participants. In addition, id..
Player 1 has the following set of strategies {A1;A2;A3;A4}; player 2’s set of strategies are {B1;B2;B3;B4}. Use the best-response approach to find all Nash equilibria.
After collecting appropriate data, you find that 1148 customers chose to "Be A Glutton". Compute P-value and determine the conclusion of the test.
Suppose you are planning entering a market serviced through a monopolist. You currently receive $0 economic profits, while monopolist receives $5.
A famous hypnotist performs to a crowd of 350 students and 180 non-students. The hypnotist knows from previous experience that one half of the students and two third on the non-students are hypnotizable.
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