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The editor of a textbook publishing company is trying to decide whether to publish a proposed business statistics textbook. Information on previous textbooks published indicates that 10% are huge successes, 20% are modest successes, 40% break even and 30% are losers. However, before a publishing decision is made, the book will be reviewed. In the past, 99% of the huge successes received favorable reviews, 70% of the moderate successes received favorable reviews, 40% of the break even books received favorable reviews, and 20% of the losers received favorable reviews.
i) If the proposed textbook receives a favorable review, how should the editor revise the probabilities of the various outcomes to take this information into account?
ii) What proportion of textbooks receives favorable reviews?
If the standard deviation is 20 pounds, and the weight gain is normally distributed, how many hogs should receive the new experimental diet?
Recognize and explain potential threats (up to 3) to external validity.
Fast Service Truck Lines uses the Ford Super Duty F-750 exclusively. Management made a study of the maintenance costs and determined the number of miles traveled during the year followed the normal distribution.
The Johnson family uses a propane tank for cooking on their gas grill. During the summer they need to replace their tank on average every 30 days.
State which of the three diet colas (marked as A, B or C) he or she prefers. Draw a tree diagram depicting the sample space outcomes for the test results.
Find out the value of test statistic utilizing one sample proportion testing. Use the subsequent information for the below questions.
Airlines monitor the causes of flights arriving late. 75% of flights are late because of weather, 35% of flights are late because of ground operations. 10% of flights are late because of weather and ground operations.
How large a sample is needed to find the population mean within $250 at 99 percent confidence?
Identify at least TWO EXAMPLES of time series data. You may find it necessary to consider how your organization(s) have utilized time series data to "forecast".
He wants to be 95% confident that his estimate is correct. If the standard deviation is $1050, how large a sample is needed to get the desired information and to be accurate within $200?
If a worker at this fast food restaurant is selected at random, what is the probability that the worker earns more than 6. 75.
Describe the Linear programming problem with constraints. Which among the following is not acceptable as a constraint in a linear programming problem?
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