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In a batch of 8000 Clock radio 5% are defective. A sample of 14 clock radios is randomly selected without replacement from the 8000 and tested. The entire batch will be rejected if at least one of those tested is defective. What is the probability that the entire batch will be rejected? Assume independence.
Explain clearly, in your own words, what is a Type I error in this context.
Each customer has probability p of being a home owner independently of all other customers. Let Y be the number of home owners registered. Show that Y~Poisson.
What is the standard error of measurement for the test? What range of scores would you expect an individual who made 54 on the test to make on another test of similar difficulty? Assume you want to be 68% accurate in your estimate.
At the 5 percent level of significance, can we conclude that the mean weight is greater than 16 ounces? Determine the p-value.
The overall average for the samples is 17 ounces. The range is only 0.5 ounce. Determine the upper and lower control-chart limits for averages for the boxes of cereal.
If gambler rolls two dice and gets sum of four, he wins $10; and if he gets sum of three, he wins $25. Cost to play game is $5. What is expectation of this game?
Use this information to set up a 90 percent confidence interval for the proportion, p of all US workers who play hooky.
In, addition, the company has decided to purchase at least three of the new Econo-Tankers for use on short-run, low-demand routes. As a final constraint, the conpany deos not want more than half the new models to be Super Tankers.
In performing the symmetric approximation, you calculate a mean of the total system cost as $1,725K. The variance is 22500. The POE is $1,600K.
You can just switch on the heater of your swimming pool / sauna / living room etc. But if you want to be calculate what time you should switch it on
A random sample of 250 adults in a medium size college town were surveyed and it was found that 110 were regular voters. Estimate the true proportion of regular voters with 90% confidence.
Suppose you want to know if a new design of a product is actually better than the current product. For example, your design team is working on increasing the speed of the KX Speed Drill
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