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A tire manufacturer produces tires that are believed to have a mean life of at least 25,000 miles when the production process is working correctly. Based on past experience, the population standard deviation of the lifetime of the tires is 3,500 miles. Assume a level of significance for testing of 5%, and a random sample of 100 tires, what is the probability of making a Type II error if the population mean is 24,000 miles?
To sketch the 3-sigma X-bar chart and R-chart parameters. A candy bar manufacturer desires to set up a variables control chart for the net weight of its candy bars.
Number of rescue calls received by rescue squad in city follows a Poisson distribution with mu = 2.83 per day. Squad can handle at most four calls a day. Determine the probability that squad will be able to handle all calls on a particular day?
Do any of the selected samples seem to be out of the control limits? Describe.
Use a decision tree to describe the possible strategies and the consequences (or payoffs) of each. Show your decision tree.
Does the weight of a vehicle affect the gas mileage? The following random sample was collected where x = weight of a vehicle in hundreds of pounds and y = miles per gallon.
A Correlation matrix (correlation, coefficients and probability level under the hypothesis rho= 0) for a company's sales force (age, years of service, and current sales) is given below. Comment.
At 0.05 level of significance, is there evidence of significant relationship between age group and where people mainly get their news? If so, describe the relationship.
To find z-score and required probabilities based on Normal distribution. Assume that childrens weekly allowances are normally distributed in the population.
Compute the mean and standard deviation of the scores and use these for the calculations below. Show your calculations on the back of his page.
Which of the following models are appropriate to forecast a time series whose amplitude increases over time?
We are interested in testing to see if the variance of a population is less than 7. The correct null hypothesis is:
Compare 2 moving averages using MSE and compute Exponential smoothing. The subsiquent data which represents demand for company ABC's products for the last 10 months.
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