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To find the prior probability, conditional probability and posterior probability.
A consulting firm submitted a bid for a large research project. The firm\'s management initially felt they had a 50/50 chance of getting the project. However, the agency to which the bid was submitted subsequently requested additional information on the bid. Past experience indicates that for 75% of the successful bids than 40 % of the unsuccessful bids the agency requested additional information.
a. What is the prior probability of the bid being successful (that is , prior to the request for additional information)?
b. What is the conditional probability of a request for additional information given that the bid will ultimately be successful.
c. Compute the posterior probability that the bid will be successful given a request for additional information.
Explain in words general pattern of correlation is statistically important.
With this important detail, are there any significant differences with LSD?
You listen to radio station for 1 hour, at arbitrarily selected time, and carefully observe that amount of advertising time is equal to 7 minutes. Compute z-score for this amount of advertising time.
What statistical procedure was used to analyze data in study B?
Determine point estimate of population mean? By using 90% confidence, determine the margin of error?
At the .05 significance level, can we conclude that the guideline is still reasonable?
Use a 95% confidence interval for multiple comparisons. Show your calculation by hand between Monday and Tuesday. Match your answer with Minitab output. Attach Minitab output.
Using What's Best! (or Solver) determine the least-cost shipping schedule, where each of three (3) hardware vendors provide up to two hundred (200) units and each of six (6) buyers demand one hundred (100) units.
Determine the mean and standard error of the x - bar distribution.
Use the marginal probabilities of school quality, school cost or convenience, and other to comment on the most important reason for choosing a school.
If two independent large samples are taken from two populations, the sampling distribution of the difference between the two sample means:
Is there significant evidence that this production run doesn't meet specifications? Use a 1% level of significance.
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