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Question: Doug has defined the event "It will rain" like this: Today, it will either rain or it will not, but not both. He calls the weather service and they say that it will rain today with probability 0.6, which Doug, for the moment, accepts. Doug knows that Cathy is extremely inaccurate about predicting the weather. He believes that if it is not going to rain on a given day, Cathy will say so with a probability of only 0.1. Similarly, if it is going to rain, he feels Cathy will say so with probability 0.2.
a. Assuming that today it will either rain or it will not (but not both), construct the probability tree for Doug's state of belief.
b. Cathy confidently proclaims, "It's not going to rain today." Given Cathy's statement, what probability does Doug assign that it will rain today?
A company finds that 1 out of every 6 workers it hires turns out to be unsatisfactory. Assume that the satisfactory performance of any hired worker is independent of that of any other hired workers. If the company hires 12 people
Range of numbers: What is the first and third quartile? What is the second decile and the eighth decile? What is the 67th percentile?
Based on these observed data, do you think there is a relationship between sex and handedness in the population represented by this sample? Why or why not?
Identify the dependent variable for this study and what scale of measurement (nominal, ordinal, interval, or ratio) is used to measure the dependent variable?
The mayor of a small town would like to know whether a local bond issue is likely to pass or not. He mails a survey to 500 randomly selected voters.
Short-Term Financing Analysis Assume that Davenport, Inc., needs $3 million for a 1-year period. Within 1 year, it will generate enough U.S. dollars to pay off the loan. It is considering three options: (1) borrowing U.S. dollars at an interest ra..
The proportion of defective items generated by a manufacturing process is believed to be 8%. In constructing a p-chart for the process, determine how large the sample size should be to avoid ending up with a negative lower control limit.
a company is studying the number of daily debit card purchases. if there were 20 purchases and the probability of a
a garage door opener has six toggle switches each with three settings up center and down.a in how many ways can the
Team Marketing Report, a sports-business newsletter, estimates that the average total cost for a family of four to attend a major league baseball game is $132.
What is the largest value you can use for a random start? Using the following list of the first 15 items in your population, a random start of $25,000, and a rounded sample interval of $100,000.
In learning about BA, you have covered quite a few topics from the manager's decision-making process to technology integration. The best way to pull all of this knowledge together is to create a BA implementation plan for a hypothetical organizati..
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