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A salesperson goes door-to-door in a residential area to demonstrate the use of a new Household appliance to potential customers. She has found from her years of experience that after demonstration, the probability of purchase (long run average) is 0.30. To perform satisfactory on the job, the salesperson needs at least four orders this week. If she performs 15 demonstrations this week, what is the probability of her being satisfactory? What is the probability of between 4 and 8 (inclusive) orders?
Now the challenging questions: if the salesperson wants to be at least 90 percent confident of getting satisfactory evaluation in her job this week, how many demonstrations should she perform? How would your answers to above questions change if the probability of success increases (say by training) to 0.35?
If p is the probability of Event 1 and (1-p) is the probability of Event 2, based on the expected returns, for what values of p would you select A? B? C? Values in the table are payoffs.
By using standard normal table, determine critical value (or values) for= 0.14 right-tailed test.
Perform a parametric analysis by assessing the fractional change in the probability of failure with respect to a small change in the mean and standard deviation of selected variable.
Determine the probability that of a Type I error using decision rule if population mean is in fact 800 kilowatts per day?
Choose the proper conclusion regarding the claim that the population have different variances.
Two independent samples of sizes 16 and 26 were taken. In a test of equality of population means of the two samples, how many degrees of freedom are associated with the critical t-value?
Test out an suitable hypothesis also state your conclusion. Make sure the suitable assumption as well as conditions are satisfied before you proceed.
What are the two ways of testing a correlation coefficient for significance?
Using a 5% level of significance, is there any difference in proportion of guests who would select the two resorts? What is your conclusion?
As of 2012, the proportion of students who use a MacBook as their primary computer is 0.36. You believe that at your university the proportion is actually greater than 0.36. If you conduct a hypothesis test, what will the null and alternative hypo..
On average, how long does patient stay in ER? On average, how long does Potential Admit stay in ER? On average, how many patients are in the ER?
A random sample of 16 ages is drawn from the population, and we find the sample mean of these observations to be μ = 8.76. What is the value of the test statistic?
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