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A university has purchased a service contract for its computers and pays $20 annually for each computer. Maintenance records show that 8% of the computers require some sort of servicing during the year. Furthermore, it is estimated that the average expenses for each repair, had the university not been covered by the service contract, would be about $200. If the university currently has 20 computers, would you advise buying the service contract?
Based on expected costs, for what annual premium per computer will the university be indifferent to purchasing the service contract?
What is the probability of the university spending no more than $500 annually on repairs if it does not buy the service contract?
Find the probability of committing a type I error.
In October 1962, the Soviet Union and the United States came to the brink of nuclear conflict over _____.
What type of test is described below and can you provide the null and alternate hypothesis? Using an old manufacturing process.
The NAEP test was also given to a sample of 1077 women of ages 21 to 25 years. Their mean quantitative score was 275. Take it as known that the standard deviation of all individual scores is = 60.
a) What is the correlation coefficient & how strong is it? b) What is the best fit regression equation that can predict the MBA GPA from the BS GPA? c) What percent of the variability in the MBA GPA can be explained by the regression model?
Jurors and gender A jury list contains the names of all individuals who may be called for jury duty. The proportion of the available jurors on the list who are women is 0.53. If 40 people are selected to serve as candidates for being picked on the..
If the null hypothesis is true, then how much difference should be expected, on average, between the two sample means?
Samples t test and one that would require a dependent samples t test. And explain what they mean and why they are independent or dependent samples.
Students enrolled in a particular course are preparing for an exam that will consist of 25 multiple choice questions, each of which has five possible answers.
Also, Y1 Y2, . . . , Yn , representing yields for corn variety B, constitute a random sample from a normal distribution with mean μ2 and variance σ2. If the X's and Y 's are independent, find the MLE for the common variance σ2. Assume that μ1 and ..
Think about what you have learned and how you can relate it to your profession, your daily life, or a realistic hypothetical situation. Then, create (invent) a realistic small dataset that can be best described by mode and poorly described by mean.
Consider tossing a pair of fair dice two times. For each of the following pairs of events, tell whether they are disjoint, independent, or neither.
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