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A manufacturer of exercise equipment knows that 10% of their products are defective. They also know that only 30% of their customers will actually use the equipment in the first year after it is purchased. If there is one-year warranty on the equipment, what proportion of the customers will actually make a valid warranty claim?
Find historical information on the statisticians who developed statistical tests, such as the normal distribution, Student t distribution, Chi-Square distribution
A cell phone company collects data from a random sample of 500 households. The results indicate that 135 of the households would add an extra cellular number, provided it was offered at a reduced monthly cost.
The owner of a restaurant serving Continental-style entrees has the business objective of learning more about patterns of patron demand for the Friday to Sunday weekend time period.
where the deviations εi are assumed to be independent and Normally distributed with mean 0 and standard deviation σ. This model was fit to the data using the method of least squares. The following results were obtained from statistical software.
Rob Johnson is a product manager at Diamond Chemicals, which is considering whether to launch a new product line that will require it to build a new facility.
Two tools that are often used in this process are the contingency table and the decision tree. What are these tools and how to they help us to make decisions under uncertainty when we are dealing with probabilities?
Do hotel managers on average vary significantly in femininity score from men in general?
Assume that for population of students at school, distribution of x is well approximated by normal curve with mean 48 min and standard deviation 4 min.
The mean of a sample is 22.5. The mean of 1000 bootstrapped samples is 22.491. The bias of the bootstrap mean is
Difference in the mean number of times men and women order take-out dinners in a month? What is the p-value?
Compare the margin of error for the interval estimates in parts (a), (b), and (c). The margin of error (Increases or Decreases) as p-bar gets smaller.
Test this conjecture with formal hypothesis test, by using a 5% significance level. Find out the p-value for hypothesis test.
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