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The annual premium of a special kind of insurance starts at $1000 and is reduced by 10% after each year where no claim has been filed. The probability that a claim is filed in a given year is 0.05, independently of preceding years. What is the PMF of the total premium paid up to and including the year when the first claim is filed?
Critically discuss the lower control limit for a proportion defective if the average daily production is 5000 units and the average fraction defective is .02?
The overall average for the samples is 17 ounces. The range is only 0.5 ounce. Determine the upper and lower control-chart limits for averages for the boxes of cereal.
The number of messages sent to a computer bulletin board is a Poisson random variable with a mean of 5 messages per hour.
Construct a 90 percent confidence interval for the true mean weight. (b) What sample size would be necessary to estimate the true weight with an error of 0.02 grams with 90 percent confidence?
What is the probability that the mean completion time is between 1 and 2 hours, i.e.., 60 and 120 minutes?
Using a random sample of 100 newly-packed Chococake, it is found that the mean shelf life is 154 hours. Can the cake house manager conclude that the new packaging technique is efficient at 0.01 significance level?
Calulate the critical value of ra. (f) Can you reject p = 0? 12.4 Moviegoer Spending ($) on Snacks Age (X) 30,50,34,12,37,33,36,26,18,46. Spent (Y) 2.85,6.50,1.50,6.35,6.20,6.75,3.60,6.10,8.35,4.35.'
a. What is the probability that one randomly selected student scores above 1100 on the GRE? b. Describe the sampling distribution of the sample mean for the 16 students.
A sample of 49 observations is taken from a normal population. The sample mean is 55 and the sample standard deviation is 10. Determine the 99% confidence interval for the population mean.
Also, the sample data appear to have a bell-shaped distribution. Construct the 95% confidence interval for the mean time spent on paperwork by all managers.
Conduct a test to determine whether blood lactate level (y) is linearly related to perceived recovery (x). Use alpha = .05. Find the p-value for testing the hypotheses you gave in the previous problem. Show all decimal places in your answer.
Calculate a 95% upper confidence bound on the mean. Compare this bound with the upper bound of the two-sided confidence interval and discuss why they are different.
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