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Suppose that the number of defects in a 1200-foot roll of magnetic recording tape has a Poisson distribution for which the value of the mean 0 is unknown, and that the prior distribution of 0 is a gamma distribution with parameters ex = 3 and f3 = 1. When five rolls of this tape are selected at random and inspected, the numbers of defects found on the col1s are 2, 2, 6, 0, and 3. If the squared error loss function is used, what is the Bayes estimate of 8? (See Exercise 4 of Sec. 6.3.)
Find the minimum sample size needed , using a prior study that found that 26% of the respondants said they planned to travel outside the US in next 12months.
What is the probability of making a Type II error if the population mean is 24,000 miles?
a. Is this a representative sample mean or an extreme value for a sample of n=16 scores? b. Is this a representative sample mean or an extreme value for a sample of n=100 scores?
A rectangular garden has dimensions of 25 feet by 19 feet . A gravel path of equal width is to be built around the garden. How wide can the path be if there is enough gravel for 672 square feet?
The St. Maries plywood plant is part of the Potlatch Corporation's Northwest Division. The plywood superintendent organized a study of the tree diameters.
Change this to the average probability of tossing heads by putting the average number of heads in a fraction over the number of coins you used in your tosses.
Find the expected value (don't forget the coin toss). In order to make a little profit in the "long run", what should your minimum charge be for the privilege of playing this game?
find the p-value obtained when testing the claim that p 0.75 when given sample data resulting in a test statistic of z
Estimate the CAPM model for Caterpillar, Inc. Show the regression results in a well-formatted table.
What are the five steps in the hypothesis testing procedure, what does each step represent, what are the advantages and disadvantages of using a hypothesis testing procedure?
Show that this property is preserved by a matrix power product, and check whether numerical inaccuracies occur when the power is high enough.
Suppose an advertising agency is conducting a survey concerning the effectiveness of commercials during the Super Bowl.
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