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Consider the following two economic characteristics with two possible outcomes each: employment (increase, decrease) and economic trend (positive, negative). Let the probability of a decreasing employment be 0.6 and the probability of a positive economic trend 0.5. Further, assume that the probability of a decreasing employment given a negative economic trend is 0.7.
When we say we have confidence level of 95% what do you believe our "margin of error" is?
Determining probability values using the Binomial distribution.Use the Binomial distribution to determine the probability that four or more of the contracts are in breach of the tendering guidelines.
State a question that can be answered in a "binomial" manner, such as Do you normally read the front page of a newspaper at least 4 times a week?
The width of a confidence interval will be:
Find the value of x that corresponds to each of these standard scores z = -1.85.
Of 260 females, 224 answered yes. Construct a contingency table to evaluate the probabilities. What is the probability that a respondent chosen at random:
Health and Nutrition Examination Survey, suppose that weights of men now are normally distributed with mean of m =172 pounds and standard deviation of s = 29 pounds.
The standard deviations s1 and s2 can be used when Ó1 and Ó2 are unknown and you believe that the underlying distribution is normal. Then, you would use s1 and s2 with the t-test for hypothesis testing.
If an overrun contract was bid at 12 million dollars, what does the least-squares line predict for the cost of overrun (as a percent of bid price)?
Determine the completion time and standard deviation (σ) for project roundoff the standard deviation to the nearest hundredth: two decimal places.
The significance level of a statistical test is equal to the probability that the null hypothesis is true.
Define the Linear programming problem (LPP)
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