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Suppose that the tax (Ti) paid by individual i is the following function of his or her income(Xi):
Ti= 0.1(Xi-2000) = 0.1Xi-200
(i.e. there is a flat tax of 10% on all income over 2000). You know that total income in a geographical area containing 100 individuals is $5,000,000. Assuming that all 100 individuals have an income of at least $2,000, what is the total tax revenue?
What is the probability that the drug will be effective for 3 hours or more?
You catch 12 brown trout. A fish psychologist determines the I.Q.s as follows: 5; 4; 7; 3; 6; 4; 5; 3; 6; 3; 8; 5. Conduct a hypothesis test of your belief.
O-rings. Failures of O-rings on the space shuttle are fairly rare, but often disastrous, events. If we are testing O-rings, suppose that the probability.
a loan officer in a large bank has been assigned to screen 60 loan applications during the next week. if her past
What is the upper bound of the 95% confidence interval for the mean price for all phones of this type?
If die is loaded so that 6 comes up with probability 0.2 and probabilities of 2,3,4, and 5 faces are not affected, determine the assignment of probabilities to the six faces?
Define "Type I error" in your own words. When should we use the t distribution? How do we find the degrees of freedom when using the t-distribution to estimate or test the mean of a sample from a single population..
Identify the sampling distribution to be used: the standard normal distribution or the Student's t distribution. Find the critical value(s).
A random sample of 44 adult females has white blood cell counts with a mean of 8.95 and a standard deviation of 3.16. Find the value of the test statistic.
Consider the following two-level experimental design for seven factors in 12 runs:
Suppose that two drugs are both effective in prolonging length of life after a heart attack. Substantial statistical evidence indicates that the mean life.
the diameter of a brand of ping-pong balls is approximately normally distributed with a mean of 1.32 inches and a
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