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Between quarterly audits, a company checks its accounting procedures to detect problems before they become serious. The accounting staff processes payments on about 120 orders each day. The next day a supervisor checks 10 of the transactions to be sure they were processed properly.
(a) Propose a sampling strategy for the supervisor.
(b) How would you modify the sampling strategy if the company makes both wholesale and retail sales that require different boookkeeping procedures?
To find weighted aggregate price index using Laspeyres and Paasche method.
The makers of a soft drink want to identify the average age of its consumers. A sample of 16 consumers is taken. The average age in the sample was 22.5 years with a standard deviation of 5 years.
Call this the customer's age. Next, for each of 100 customers, draw from the N(10; 2) distribution and call this the customer's length of membership.
In other words, could you generate two sets of random numbers (of length, say, 50) and set out the calculations in detail to determine whether the random variables are independent using chi-squared.
The probability that an American CEO can transact business in a foreign language is .20. Ten American CEOs are chosen at random.(Round your answers to 4 decimal places.)
The average buglary rate for a juisdiction has been 311 per year with a standard deviation of 50 what is the probability that next year the number of burglaries will be more than 350.
Use the Fama-French 3-Factor model to run the following tests and alternative techniques to account for violations of the classical linear regression assumptions
The 50 computer mice inspectors at a particular factory can only inspect 34 mice per hour. Does the company have reason to believe that these inspectors are slower than average at α = 0.10?
Average number of mosquitoes in pond is 80 per square meter with a standard deviation of 12. If 16 square meters are choses at random for a mosquiot count, find probabilty that the average of those counts is more than 83.0 mosquitoes per square me..
Why is expectation important? Explain what the expected value of an experiment or a business represents. What does it mean to have an expected value of 0? Provide an example of expectation and the use of the formula for expected value.
The following are average weekly inventory costs in thousands of dollars for two proposed inventory control policies. The values were obtained from independent replications of a simulation model of the system.
given pa0.25 pb0.50 pab0.12 pabc 0.13 pacb0.38 pacbc0.37. express the following events in set notation and find their
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