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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)
The prevalence of undetected diabetes in a population to be screened is approximately 1.5% and it is assumed that 10,000 persons will be screened. The screening test will measure
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what do we mean by critical region
This question explores the effect of estimation error on apparent arbitrage opportunities in a controlled simulation setting. We simulate returns for N = 10 assets over T = 30 year
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We are interested in assessing the effects of temperature (low, medium, and high) and technical configuration on the amount of waste output for a manufacturing plant. Suppose that
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Admissibility A very common concept which is applicable to any procedure of the statistical inference. The underlying notion is that the procedure/method is admissible if and o
Cluster Sampling Here the population is divided into clusters or groups and then Random Sampling is done for each cluster. Cluster Sampling differs from Stratified Sampl
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