Reference no: EM131111655
Question 1. Two contractors, Bill and Ben have put in the same bid for a landscaping job. You want to decide between them based on their past performance at completing jobs. The following tables are probability distributions showing the amount of time it takes Bill & Ben to finish similar jobs.
| Bill |
| Weeks(X) |
3 |
4 |
5 |
6 |
| P(X = x) |
0.2 |
0.3 |
0.3 |
0.2 |
|
|
|
|
|
| Ben |
| Weeks(Y) |
2 |
4 |
6 |
7 |
| P(Y = y) |
0.2 |
0.4 |
0.3 |
0.1 |
(a) How long on average would it take (i) Bill, (ii) Ben to finish the job?
(b) What is the standard deviation of the time it would take each of Bill and Ben to finish the job? Interpret the results.
(c) Who would you choose to do the job?
Question 2.
The following dataset contains ages of 10 randomly selected students in a school. Complete (a) to (e) below.
9, 11, 12, 13, 13 , 15, 16, 21, 28, 42
(a) Compute the mean and standard deviation.
(b) Find the median, and compare the mean and median to determine the skewness of the dataset.
(c) Calculate the coefficient of variation.
(d) Locate the first quartile, third quartile
(e) Locate the 80th percentile.
(f) Find out the range and inter-quartile range for the dataset. Suppose the last observation (42) was incorrectly entered. If the correct age was 80, how would the correction affect the range and the inter-quartile range?
Question 3.
Using the Z-table and inverse Z-table, find the following. Illustrate your solutions with appropriate diagrams (i.e. appropriately shaded Z-curves).
(a) P(0 < Z < 2.21)
(b) P(Z < -3)
(c) P(Z > -0.5)
(d) P(Z < -2 or > 2)
(e) P(Z >0.6 and <2.5)
(1) The Z value such that its left tail is 0.20.
(g) The symmetric Z values which contain 95% of all observations.
Question 4.
The clean air legislation in Australia requires that vehicle exhaust emissions do not exceed certain limits for various types of pollutants. In Queensland, the Department of Environment has recently received complaints that some car repair workshops certified vehicles that did not meet the emission standard. The regulator decides to check a random sample of cars that a suspect repair shop has certified as okay. They will revoke the shop's license if they find significant evidence that the shop is issuing certificates for cars that do not meet the standard.
(a) In this context, what is a type I error?
(b) In this context, what is a type II error?
(c) Which type of error would the shop owner consider more serious?
(d) Which type of error might the environmentalists consider more serious?
Question 5.
Why does σ pose a problem for sample size calculation for a mean? How can a be approximated when it is unknown?
Question 6.
Why is it better to say "fail to reject HO" instead of "accept HO"?
|
Which annuity would you recommend
: Calculate to the nearest 1% the rate of return on each of the four annuities Raina is considering. Given Raina's stated decision criterion, which annuity would you recommend?
|
|
Summarize common subspecializations in clinical psychology
: Briefly summarize the four most common subspecializations in clinical psychology. Discuss their similarities and differences. Which one is most interesting to you? Explain your response.
|
|
Distinguish between actual and potential damages
: Compare these two cases of intellectual property infringement, including comments on the parties being sued, the parties filing suit, the financial damages in each case (distinguish between actual and potential damages if needed), and the ability ..
|
|
List of security activities or controls applied in levels
: The Title/Cover page, illustrations (tables/charts/graphs), network diagram, and references are not part of the page count but are required for the assignment. The grading rubric provides additional details as to what should be included in the pap..
|
|
What is the standard deviation of the time
: What is the standard deviation of the time it would take each of Bill and Ben to finish the job? Interpret the results - Who would you choose to do the job?
|
|
Differentiate what is a representation
: Q1) Term of Contract: Differentiate what is a representation? Got any Legal Effect?
|
|
What is the rate of return on an investment
: What is the rate of return on an investment of $10,606 if the company will receive $2,000 each year for the next 10 years?
|
|
Which investment would you recommend to clare
: Calculate, to the nearest 1%, the rate of return on each of the four investments available to Clare. Which investment would you recommend to Clare, given her goal of maximizing the rate ofreturn?
|
|
Discuss how you would build alliance with this family
: Discuss how you would build alliance with this family. Develop some hypothesis about the family patterns that you believe are maintaining the problem.
|