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What are some benefits of an auditor using statistical sampling? What are some examples of statistical sampling? Does anyone have any experience they are willing to share with the class on statistical sampling?
The problems for this assignment are typical of those encountered by statisticians working with clinical researchers. So if you'll humor me, I have written this assignment as though it is a day in the life of a project statistician. Here is your age..
An insurance policy sells for $1200. Based on past data, an average of 1 in 125 policy holders will file a $15000 claim, an average of 1 in 100 holders will file a claim of $40,000 and an average of 1 in 250 holders will file a claim of $80,000.
A manager wishes to determine the relationship between the number of miles (in hundreds of miles) the manager's sales representatives travel per month and the amount of sales (in thousands of dollars) per month.
The index of leading economic indicators, compiled and published by the U.S. National Bureau of Economic Research, is composed of 12 time series, such as the average work hours of production in manufacturing, manufacturers
Describe the rationale for utilizing probability concepts. Is there more than one type of probability? If so, describe the different types of probability.
Explain the difference between data and information. What is the difference between a population and a sample? List the different types of charts available in Excel, and explain characteristics of data sets that make each chart most appropriate to ..
What is the main difference between descriptive and inferential statistics. Give a brief example of each. Under what circumstances is the mean the best measure of central tendency?
Calculate the industry average beta for Dell, and then using the industry average beta compute the cost of equity for Dell. Does it matter if you use the beta for Dell or the beta for the industry in this case?
Zimmerman's Bank is the only bank in the small town of St. Thomas. On a typical Friday, an average of 10 customers per hour arrive at the bank to the transact business.
Paid dividend of $2 per share. Expected to grow at a constant rate of 5% per year, and investors require a 15% rate of return on the stock. What is the stocks value?
The dependent variable is hygiene score in a restaurant in a quarter and grade cards introduction has been shown to improve average grades in mandatory counties and voluntary counties.
Draw a graph of an insurer's probability distribution for total claim costs, assuming that it has expected claim costs of $500 million. Identify the probability of insolvency if the insurer has assets equal to $750 million.
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