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Ace Machine Works estimates that the probability its lathe tool is properly adjusted is 0.8. When the lathe is properly adjusted, there is a 0.9 probability that the parts produced pass inspection. If the lathe is out of adjustment, however, the probability of a good part being produced is only 0.2. A part randomly chosen is inspected and found to be acceptable. At this point, what is the posterior probability that the lathe tool is properly adjusted?
A survey of 600 non-fatal accidents showed that 111 involved the use of a cell phone. Find a point estimate for p, the population proportion of accidents that involved the use of a cell phone.
Compute a 5-month moving average forecast for June through January.
When an experiment is conducted, one variable is manipulated to see the impact on another variable -- that's why experiments address causation.
Find a 99% confidence interval for the difference in the mean number of calls between night and day.
Suppose the investor is to invest a total of $10,000, what is the expected value of perfect information for investor.
Based on this information, by what factor does the risk of having an accident increase due to driving while intoxicated?
At.01 significance level is it sensible to conclude that modification decreased the number of traffic accidents?
What was the purpose of calculating a Cohen's d? When is a Cohen's d calculated? Interpret d=.90. What does it mean in this example?
Suppose that past data are not available for developing a planning value for p; therefore, you will use p = 0.050 for the planning average.
How large a sample is required if the 97 percent level of confidence is used and the estimate is to be within $2,500? The standard deviation is $16,000.
Determine a 99% confidence interval for mean pH in rainfall. How would you distinguish interval?
Discuss how to perform a test of hypothesis to determine whether the variances of two populations are equal. Include a discusssion of why the larger sample variance is placed in the numerator in the Test Statistic for comparing two variances.
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