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1. What is a prior probability? What is a posterior probability?
2. Explain the purpose behind using Bayes' theorem.
METHODS AND APPLICATIONS3. Suppose that A1, A2, and B are events where A1 and A2 are mutually exclusive and
P(A1) = .8 P(B I A1) = .1
P(A2) = .2 P(B I A2) = .3
Use this information to find P(A1 I B) and P(A2 I B).
A typical adult has an average IQ score of 105 with a standard deviation of 20. If 20 randomly selected adults are given an IQ test, what is the probability that the sample mean scores will be between 85 and 125 points?
Respond to the following to describe a "real world" scenario where a researcher might want to construct a confidence interval to support a conclusion about a population parameter.1.Provide an overview of the scenario and the variable involved. Includ..
Explain what is meant by the margin of error for a confidence interval. What error are we talking about in the context of an interval for m?
Given that the random variable X is normally distributed with a mean of 80 and a standard deviation of 10, P(85
What demographic variables were measured at least at the interval level of measurement and what statistics were used to describe the length of labor in this study? Were these appropriate?
A metropolitan bus system sampler's rider counts on one of its express commuter routes for a week. Use the following data to establish whether the rider ship is evenly balanced by day of the week. Let α=0.05 . Day Monday Tuesday Wednesday Thursday Fr..
Refer to the new product development example in the overview of this module. Suppose that there is a 60% probability that the product will be a success on the market (that means, the probability of failure is 40%). If the product is a success, you wi..
The data in the table below is from a study conducted by an insurance company to determine the effect of changing the process by which insurance claims are approved. The goal was to improve policyholder satisfaction by speeding up the process and eli..
Interpret the coefficients - what does the regression line tell you about the heights of sons of tall fathers - what is the standard error of estimate? Interpret its value.
What proportion of customers say that they will return and rate the restaurant's food as good?
Choo Choo Paper Company produces papers of various thicknesses. A random sample of 49 cuts had a mean thickness of 30.3 mils with a sample standard deviation of 4 mils. a) Develop a 99% confidence interval for the mean thickness of the population. b)..
Would like to know what factors influence the annual income of a person. What are some of the variables you will look for? How would you collect data on these variables? Is the data qualitative or quantitative? Remember that for each person you find ..
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