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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.
Determine the probability of a positive economic trend given an increasing employment. Are employment and economic trend independent?
What is the expected value and variance for the number of contacts in eight attempts?
Suppose nothing in this environment changes. a) Compute the probability the mean number of attacks over the next 10 years is between 500 and 600.
Would you expect the mean absolute percentage error to be more than or less than 0.25? Describe.
When would you use hypothesis testing and when would you use confidence intervals?
Find the probability that he will answer all 10 questions correctly.
prevent coronary artery vasoconstriction and the attendant reduction in blood flow to the heart and mechanical function.
a) Explain why it would be hard to take a Simple Random Sample? b) Describe how to take a cluster sample of chocolate chip cookies.
A particular bulb is turned on once each evening for an average of 10 hr. If it is desired to have a reliability of 90 percent, what is its design life in days?
Using the z table in Table E of Appendix C, determine the critical value for the hightailed test with a = 0.035.
Assume that the master budget for Cannondale shows total variable expenses of $10,000. The budget was based on production of 5,000 units. Cannondale sells all units it produces.
How much net profit can John expect (on average) to earn from the store in total over the next five years?
If we are dealing with non-normal data we use Chebychev's Theorem. While not as precise, it does provide some level of utility. If we use Chebychev
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