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Question: A car was machine washes each car in 5 minutes exactly. It has been estimated that customers will arrive according to a Poisson distribution at an average of 8 per hour. Calculate:
1) Expected average time ( in minutes) a customer spends at the station
2) Average number of cars in the station ( both in line and being washed)
Consider three stocks A, B and C costing $100 each. The annual returns on the three stocks have mean $5 and variance $10. a. Suppose that the returns on the three stocks are i.i
Statistician is searching the \home ground" effect and is studying 20 football games, of which 14 were won by the home team and 6 by the visitors. Therefore the game is a Bernoulli
Having 11 numbered balls -0 to 10 -into a basket and have 6 spaces to be numbered with the balls selected in each 6 chances and it returned it back to the basket each time. Chanc
Importance of official statistic
give me question on mean is the aimplest average to understand and easy to compute
Sampling A Population is a collection of all the data points being studied. For example, if we are studying the annual incomes of all the people in India, then the population
Advantages It is especially useful in case of open-end classes since only the position and not the values of items must be known. The median is also recommended if th
Types of business forecasting are generally as follows: 1. Sales and Demand forecasts 2. Porduction forecasts. 3. Cost Forecasts 4. Financi
Index Number Meaning and Definitions of Index Number The index numbers are the special type of averages which are presented in percentages and computed on certain base.
For the following questions we are interested in a comparison of the 16 years education vs. > 16 years. (Recall we did the analysis on the log scale, so these are actual means on t
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