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An oil explorer orders seismic tests to determine whether oil is likely to be found in a certain drilling area. The seismic tests have a known reliability: When oil does exist in the testing area, the test will indicate so 85% of the time; when oil does not exist in the test area, 10% of the time the test will erroneously indicate that it does exist.
The explorer believes that the probability of existence of an oil deposit in the test area is 0.4. If a test is conducted and indicates the presence of oil, what is the probability that an oil deposit really exists?
a student in the concrete lab places 6 low strength concrete test cylinders 3500 psi with a batch of 9 high strength
An important application of sensitivity analysis occurs in problems involving multiple attributes. Many decision makers experience difficulty in assessing trade-off weights.
As it is a 2 _ 2 table, try also two-tailed two-sample z test for ð1 = ð2 and verify that z2 is same as your chi-square statistic. Which test do you favour? Describe why?
a random sample of 100 computer chips made by a manufacturer were inspected and 8 were found to be defective.a
a business person looking at data wonders does the average price for medium fuel in the united states differ
Median $2.4 million, modal sales $2.6 million and standard deviation of distribution is $500,000. Determine the Pearson's coefficient of skewness?
The normal serum hemocrit level is 0.41 milligrams to 100 milligrams of blood. The level in elderly patients is significantly low at 0.31.
What is the probability that the person guessing the numbers guesses it incorrectly between 8 and 20 times out of the 34 times the game is played?
a mean of 20 minutes and a standard deviation of 3 minutes. how long does it take the slowest 10% of the students to walk from the dorms to the chemistry lab.
Compute a 95% confidence interval for the average time spent in training per year at this firm. Develop a graph showing the data below as a frequency distribution. Note the mean and the confidence interval on the graph.
One thing you have learned is that the tangency portfolio will give you the maximum Sharpe ratio. Consequently, you have constructed such a portfolio. What are you portfolio weights.
the weekly mean income of a group of executives is 1000 and the standard deviation of this group is 100. the
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