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Consider the inventory example introduced in the class, but with the following changes in the ordering policy. If the number of cameras on hand at the end of each week is 0 or 1, two additional cameras will be ordered. Otherwise, no ordering will take place. Find the steady-state probabilities of the state of this Markov chain?
Describe meaning of alternatives, criteria and states of nature. Explain how are they utilized in decision analysis?
A device has a sensor connected to an alarming system. The sensor triggers with probability 0.95 if dangerous conditions exist in a given day and with probability 0.005 if conditions are normal during the day. Days with dangerous conditions occur ..
Suppose a survey item asks someone if something is very important, somewhat important, not very important, or unimportant. This is an example of what level of measurement?
Determine regression line for predicting January temperature from latitude.
Construct a 99% confidence interval estimate of the population mean amount of paint in a 1-gallon can.
A researcher studies the average distance that 130 people who are living in U.S. urban areas walk each week: What is the size of the sample? Identify the population.
The speed limit on Interstate 75 around Findlay, Ohio, is 65 mph. On a clear day with no construction, the mean speed of automobiles was measured at 63 mph with a standard deviation of 8 mph.
a) What type of research uses numeric measurement data? b) What type of research uses a research hypothesis? c) What type of research does not use statistical data analysis?
Find the probability that a women develops breast cancer given that she has a family history of breast cancer._____________
Run a multiple regression and interpret all the findings, R 2 , F, IV coefficients, and the intercept. Then in paragraph format, identify and report the following:
What is the level of measurement for these items related to the newspaper business?
Find the test statistic P-value, and critical value, and state the final conclusion.
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