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A company that sells annuities must base the annual payout on the probability distribution of the length of life of the participants in the plan. Suppose the probability distribution of the lifetimes of the participants is approximately a normal distribution with a mean of 68 years and a standard deviation of 3.5 years. What proportion of the plan recipients would receive payments beyond age 75?
First, describe in your own words (no direct quotes, please) what a dummy variable is and its purpose in regression analysis. Secondly, provide an example of where you might use a dummy variable from your own professional experience.
What should the guaranteed mileage be if the tire company desires that no more than 2 percent of the tires will fail to meet the guaranteed mileage?
A recent study of breast cancer revealed that 13% of the women in the sample used antibiotics more than 500 days in their lifetime.
What does the coefficient of determination tell you about the variation attendance and the variation in the number of exhibitors?
It was found that in a sample of 215 teenage boys, 59% of them have received speeding tickets. What is the 95% confidence interval of the true proportion of teenage boys who have received speeding tickets?
If we wanted to shorten the interval of the estimation of the true mean of Saturday sales to a width of $600 in total, what should the size of our sample be to achieve it?
A human society claims that less than 36% of US. households own a dog. In random sample of 397 U. S. households, 151 say they own a dog. At mean=0.03, is there enough evidence to support the society's claim?
What is the critical value for a two-tailed F-Test with a=0.10, when the sample size from which the variance for the numerator was obtained was 10,
What is the appropriate procedure to test a significant difference in means between the two groups? Use the critical -value method.
A population that starts at 100 and doubles in growth every eight years: The expression would give the population t years after the growth starts.
A group of investors wants to develop a chain of fast food cafés. In determining potential costs for each facility, they must consider, among other costs, the average monthly cost of electricity.
Is the true proportion of college women that have been on a diet within the last 12 months in this survey more than the stated proportion?
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