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Industry standards recommend that 9 percent of new vehicles need warranty service in the first year. Jones Nissan in Sumter, South Carolina, sold 12 Nissans yesterday.
a. Determine the probability that none of these vehicles needs warranty service?
b. Determine the probability exactly one of these vehicles needs warranty service?
c. Compute probability that exactly two of these vehicles need warranty service.
d. Calculate the mean and standard deviation of this probability distribution.
Test the manager's claim at 5% and 1% significance level tests.
In your environment (business or personal), please give an application of exponential smoothing and why you would use this technique.
At the .10 level of significance, is the coin biased toward heads? Show your decision rule and calculations.
If p is the probability of Event 1 and (1-p) is the probability of Event 2, based on the expected returns, for what values of p would you select A? B? C? Values in the table are payoffs.
A manufacturer claims that the life span of its tires is 52,000 miles. You work for a consumer protection agency and you are testing these tires. Assume the life spans of the tires are normally distributed.
Assume we have three different samples each comprised of 20 different jurisdications. Our objective is to compare the seriousness of juvenile substance abuse across all the samples.
If standard deviation is 50 hours and α is equal to 0.01, what values for mean x will result in rejection of null hypothesis.
Perform the five-step hypothesis test on the data. - LORA - this is the portion I am responsible for based on using the nonparametric hypothesis testing.
What is the difference between strong negative and strong positive correlation? What does zero correlation tell you? Can you share a relationship between two variables that is typically negative?
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Can you give a general rule as to what happens with confidence intervals as a function of sample sizes and confidence levels? What are the trade-offs?
An instructor in a Statistics course teaches in two classes: Class A and Class B. Class A has 16 students while class B has 25 students. On the same examination, although there was no significant difference in the mean grades, class A had a standa..
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