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Q1) Jay Seago is suing manufacture of his car for $3.5 million because of defect that he believes caused him to have accident. Accident kept him out of work for year. Company has offered him settlement of $700,000, of which Jay would get $600,000 after attorneys' fees. His attorney has advised him that he has 50% chance of winning his case. If he loses, he will acquire attorneys' fees and court costs of $75,000. If he wins, he is not guarantee of his full requested settlement. His attorney thinks that there is a 50% chance he could get full settlement, in which case Jay would realize $2 million after his attorney takes her cut, and 50% chance that jury will award him lesser amount of $1 million, of which Jay would get $500,000. Using decision tree analysis, decide whether Jay must proceed with his law suit against manufacturer.
Which combination of factors has greatest likelihood of rejecting null hypothesis?
Statistical Hypothesis test for the given sample
The random variable x is known to be uniformly distributed between 1.0 and 1.5.
This table gives three measurements of 10 samples made in a production run. Use statistical process control method to solve problem.
What is the stock's value at it's highest on 15 days of the year? (Assume that there are 240 trading days in a year).
Bougainvilleas, mean growth rate was 2.23 inches/week and sample standard deviation was 0.77 inches/week. Determine a 90% confidence interval for mean growth rate of all Bougainvilleas.
Estimate the values using multiple regression models. An air conditioning as well as heating repair firm conducted a study to determine if the outside temperature, Illustrate the forecasted monthly electric bill.
(a) Use the steps of hypothesis testing, (b) figure the effect size for the study; and (c) explain your answers to (a) and (b) to someone who has never had a course in statistics.
Florida State University administers a test of mathematics placement to students when they first enter the university.
Recognize independent variable and dependent variable for this experiment. Think in your head what influences what? Or, what causes what? Cause is independent variable.
Regression equation to predict the dependent variable using multiple regression analysis:
Determine out the regression equation. Determine the estimated sales if 40 contacts are made.
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