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You have an assembly line which produces 1L bottles of seltzer with a standard deviation of 0.05L.
• Assuming the distribution of volume is normal, what is the chance any single bottle's volume is between 0.85L and 0.95L?
• If you chose 100 bottles at random, what would be the expected average volume of the bottles in your sample? What would the standard deviation of the sample average be? What is the shape of this distribution? Give reasons for your answers.
• If you pulled a sample of 50 bottles, what is the chance that you would find the average volume was greater than 0.99L?
A rightist incumbent (player I) and a leftist challenger (player C) run for senate. Each candidate chooses among two possible political platforms: Left or Right. The rules of the g
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The following table shows the results of fitting a linear regression model of starting annual salaries on a constant, GPA (4 point scale), and a variable (Metrics =1) indicating wh
Year Production 2006 8 2007 6 2008 10 2009 12 2010 11 2011 15 2012 14 2013 16 Determine the trend from data given above?
Coefficient of Variation The standard deviation discussed above is an absolute measure of dispersion. The corresponding relative measure is known as the coefficient of vari
There are two types of drivers, high-risk drivers with an accident probability of 2=3 and low risk drivers with an accident probability of 1=3. In case of an accident the driver su
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Question 3 25 marks Your employer, Quick Hit Agency (QHA), is a debt collections agency. The company specializes in collecting small accounts. QHA does not deal in large accounts
Factor analysis (FA) explains variability among observed random variables in terms of fewer unobserved random variables called factors. The observed variables are expressed in
Sampling Error It is the difference between the value of the actual population parameter and the sample statistic. Samples are used to arrive at conclusions regarding the p
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