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Patty is trying to determine which of two courses to take. If she takes the operations research course, she believes that she has a 10% chance of receiving an A, a 40% chance for a B, and a 50% chance for a C. If Patty takes a statistics course, she has a 70% chance for a B, a 25% chance for a C, and a 5% chance for a D. Patty is indifferent between L1=(1,C), and L2=(0.25, A; 0.75 D). She is also indifferent between L3=(1,B) and L4=(0.7, A; 0.3 C). If Patty wants to take the course that maximizes the expected utility of her ?nal grade, which course should she take?
A bank manager has developed a new system to reduce the time customers spend waiting for teller service during peak hours. The manager hopes that the new system will reduce waiting times from the current 9 to 10 minutes to less than 6 minutes.
Critically illustrate out the aim and obejectives of factor analysis? Critically illustrate out the aim and obejectives of Cluster analysis? Critically illustrate out the aim and obejectives of Multidimensional analysis?
How strong is the evidence against the company's claim? Based on these data, the P -value of the appropriate test
Suppose the joint probability density function of X and Y is uniform in the plane square with corners (0,0), (0,3), (3,0) and (3,3). Find the probability of X > 1 or Y > 1. Find the probability of X + Y
The data collected was for each car for each type of fuel. Performance was measured in miles per gallon. Perform an ANOVA test and state the results.
Explain distribution of sample means (shape , Expected value , and standard error ) for samples of n=36 selected from population with a mean of m =100 and standard deviation of s=12.
A test consists of multiple-choice questions, each having four possible answers (a,b,c,d) one of which is correct. Assuming that you guess the answers to six such questions.
Construct the 95% confidence interval for the proportion of students with at least one injury.
Critically discuss the reasons for studying statistics? Choose five random numbers between 70-100. Calculate the mean, and midrange of these numbers.
The population of IQ scores forms a normal distribution with a mean of µ = 100 and a standard deviation of o = 15. What is the probability of obtaining a sample mean greater than M = 105.
It is really frustrating to run out of stock. Why wouldn't an organization always store large quantities of inventory to eliminate shortages and stockouts?
Given that the mean of 100 observations is 42.5 and that their standard deviation is 6.313, find the sum of the squares of the observations.
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