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Question: One of the authors took his minivan in for repair recently because the air conditioner was cutting out intermittently. The mechanic identified the problem as dirt in a control unit. He said that in about 75% of such cases, drawing down and then recharging the coolant a couple of times cleans up the problem-and costs only $60. If that fails, then the control unit must be replaced at an additional cost of $100 for parts and $40 for labor.
a) Define the random variable and construct the probability model.
b) What is the expected value of the cost of this repair?
c) What does that mean in this context? Oh-in case you were wondering-the $60 fix worked!
At the .05 significance level, can we conclude that the mean waiting time is less than 3 minutes?
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Find the probability distribution of the sample mean noise level.- Find the probability that the sample mean is less than 60 decibels, the level of moderate conversational speech.
BLACKJACK In the game of blackjack, a 2-card hand consisting of an ace and a face card or a 10 is called a blackjack.
What is the importance of the OC curve in the selection of sampling plans? Describe the impact of the sample size and the acceptance number on the OC curve.
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1. a new diagnostic test has been developed to diagnose disease y. the new test was compared to the standard diagnostic
Suppose that the longevity of a light bulb is exponential with a mean lifetime of eight years. If a bulb has already lasted 12 years.
A big multinational corporation based in Toronto recently moved it's production facilities to Mexico. When the corporation was in Toronto, it had an older, experienced labour force with a mean age of 45 years.
Suppose B^0 and B^1(beta hut 0 and beta hut 1) are the least squares estimates of B0 and B1 of the first model. Find the estimates of B0* and B1* in terms of B^0 and B^1.
A bicycle manufacturer makes two types of 21-speed bicycles, Road Bikes and Track Bikes. He has sales staff who sell the bikes on commission. Calculate the unit contribution margin for each product
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