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Pierre operates a currency exchange office at Orly Airport in Paris. His office is open at night when the airport bank is closed, and he makes most of his business on returning U.S. tourists who need to change their remaining euros back to U.S. dollars.
From experience, Pierre knows that the demand for dollars on any given night during high season is approximately normally distributed with mean $25,000 and standard deviation $5,000.
If Pierre carries too much cash in dollars overnight, he pays a penalty: interest on the cash. On the other hand, if he runs short of cash during the night, he needs to send a person downtown to an all-night financial agency to get the required cash.
This, too, is costly to him. Therefore, Pierre would like to carry overnight an amount of money such that the demand on 85% of the nights will not exceed this amount. Can you help Pierre find the required amount of dollars to carry?
Explain the conclusion that there were no statistically significant differences (p ≥ 0.05) between the benefits of behavioral therapy and psychoanalysis when treating an eating disorder.
Your specific assignment for this week is to select one type of quantitative health datum to collect from your own life. Some examples of data to collect could be: How many minutes do you spend exercising each day
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Consider the vector X in Problem 5.7.1 and define the average to be Y = (X1 + X2 + X3)/3. What is the probability that Y > 4? In this problem, we extend the proof of Theorem 5.16 to the case when A is m × n with m X = 0.
On page 336 of the text we are given a formula to calculate the minimum necessary sample size n. When we do not know the estimates p hat and q hat, we are told to use a value of 0.5 for each of them. Why?
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1. find the probability distribution for x the sum of a fair four sided die and and fair sixsided die. b for x from
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You may use the manual method of calculation, or show how MegaStat (or other software) is used to analyze the data. Be sure to discuss the interpretation of results.
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