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The mayor of a small town would like to know whether a local bond issue is likely to pass or not. He mails a survey to 500 randomly selected voters. How many returns must he get in order to know the proportion that will support the bond issue within a standard error of 5% and a confidence level of 95%? If he gets a 60% return from the mailing and would like to keep the error at 5%, what will happen to his confidence in the result? If he gets a 60% return from the mailing and would like to maintain his 95% confidence in the result, what will happen to the error?
P(A 1 )= .20, P(A 2 ), and P(A 3 )= .40. P(B 1 I A 1 ) = .25. P(B 1 I A 2 ) = .05. P(B 1 I A 3 )=.10. Use Bayes' theorem to determine P(A 3 I B 1 )
It was reported that approximately 45% of all university professors are extroverted. Suppose you have classes with 6 different professors.
A cell phone company collects data from a random sample of 500 households. The results indicate that 135 of the households would add an extra cellular number, provided it was offered at a reduced monthly cost.
In the graphical method, how do you know when a problem is infeasible, unbounded, or when it has multiple optimal solutions? What are the essential ingredients of an LP model? Why is it helpful to understand the characteristics of LP models?
The annual salary of an electrical engineer is given in terms of the years of experience by the table below. Find the equation of linear regression for the above data and obtain the expected salary for an engineer with 45 years of experience.
Briefly state the evaluation criteria for using a computed regression equation; specifically, comment on the coefficient of determination, correlation coefficient, and standard error of the estimate.
If the t ratio for the slope of a simple linear regression equation is equal to 1.614 and the critical value of the t distribution at the 1% and 5% levels of significance, respectively, are 3.499 and 2.365 is the slope:
A new machine has just been installed to cut and rough-shape large slugs. The slugs are then transferred to a precision grinder. One of the critical measurements is the outside diameter.
Which of the following exam scores should lead to the better grade?
The goal is to get people thinking about how they can actually use correlation and regression in their real life, and where and how can they can really benefit from these techniques?
A vertical line is drawn through a normal distribution at z = -0.25, and separates the distribution into two sections. What proportion of the distribution is in the larger section?
Assume that a 95% confidence interval for the mean is 14.5
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