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In a factory it was found that the average absentee rate is 3 workers per shift. Find the probability that on a given shift: (1) Exactly 2 workers will be absent; (2) More than 4 workers will be absent. [Given that e to the power of -3 is equal to 0.04979]
If you assume returns follow a normal distribution, which investment would give a better chance of getting at least a $40 million return? Explain how your answer could change if you knew returns followed a skewed distribution instead of a normal d..
Steps in hypothesis test procedure - conducting a hypothesis test for some general statistic, ? say.
a) Determine the proportion of instances that the duration was less than 240 seconds. Also express the proportion as a percent. (hint: proportion is number of successes divided by total number.)
It has been reported that 80% of taxpayers who are audited by the IRS end up paying more money in taxes. Assume that the auditors are randomly assigned cases and that one of the ways the IRS oversees its auditors is to monitor the percentage of ca..
Which of these statements is NOT true about CPM and PERT?
The diameters of bolts produced by a certain machine are normally distributed with a mean of 0.30 inches and a standard deviation of 0.01 inches. What percentage of bolts will have a diameter greater than 0.32 inches?
A baseball player gets a hit in 30 out of 100 times at bat. What is the probability that he gets a hit in his next at bat?
Increasing the confidence-interval level from .95 to .99
A sample of 49 pieces of cloth reveals a sample mean breaking strength of 69.1 pounds. State the null and alternative hypotheses.
A defective picture tube was discovered in the latest shipment. What is the probability that it came from Tyson Wholesale?
Assume you are using ANOVA to study some phenomenon. There are three treatment levels and a total of 17 people in the study. Complete the following ANOVA table.
Model Fitness. With any statistical model, we assess the fit: Does the model accurately depict the truth? Explain how one of the following helps assess the "fitness" of the mean.
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