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For each of the following situations choose the statistical model that you find to be the most appropriate. Justify your choice.
a) 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 we have randomly selected 5 technical configurations out of 100 configurations, and we want our conclusions to apply to all 100 configurations.
b) We are evaluating the association between the presence of a very rare adverse event (yes, no) and the treatment received (placebo, new drug) for a group of 100 patients. We want to be able to control for age (in years).
c) We are evaluating the effectiveness of five different diets with respect to weight loss. Fifty women were randomly assigned to each one of the five different diet regimens, and the weight loss during a one year period was recorded.
d) We are interested in evaluating the relationship between the levels of C-reactive protein and the body mass index for a sample of 1000 middle aged African-American women.
e) We are interested in comparing (on average) the housing prices (in thousands of dollars) for five specific locations within the same city. To allow for fair comparisons we will take into account the size of the house (in square feet) and the age of the house (in years).
(1) Assume we categorize voters in a city as havingless educationand those havingmoreeducation. Those with less education have less than a college degree; those with more education
Problem : A company supplying electrical products, places a rush order for electric wires. Consignments of wires are to be sent immediately when they are available. Previous
In reduced rank regression (RRR), the dependent variables are first submitted to a PCA and the scores of the units are then used as dependent variables in a series of
Modify your formulas from (1) to compute the price at time 0 of an American put option with the same contract specications in the binomial model. Report the price of the American
Simulation When decisions are to be taken under conditions of uncertainty, simulation can be used. Simulation as a quantitative method requires the setting up of a mathematical
Your company has developed a new product .Your company is a reputed company with 50% market share of same range of products. Your competitors also come with their new products equa
The Neatee Eatee Hamburger Joint specializes in soyabean burgers. Customers arrive according to the following inter - arrival times between 11.00 am and 2.00 pm: Interval-arriva
Agreement The degree to which different observers, raters or diagnostic the tests agree on the binary classification. Measures of agreement like that of the kappa coefficient qu
Consider a Cournot duopoly with two firms (firm 1 and firm 2) operating in a market with linear inverse Demand P(Q) = x Q where Q is the sum of the quantities produced by both
practical application of standard error
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