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In a shipment of 79 vials, only 17 do not have hairline cracks. If you randomly select 3 vials from the shipment, what is the probability that all 3 of the selected vials have hairline cracks?
If the payoff from outcome A is twice the payoff from outcome B, then the ratio of these utilities will be.
Evaluate z statistic for the Wilcoxon rank sum test, standard deviation for the Wilcoxon rank sum test and P-value for the Wilcoxon rank sum test
Answer the following three questions based on what you know about statistics now.
It is very difficult for small businesses to be successful. The Small business administration estimates that 20 percent will dissolve or go bankrupt within two years. A sample of 50 new businesses is selected. (show work) (a) What is the mean and ..
Four components of a time series are secular trend, cyclical variation, seasonal variation, and irregular variation (Lind, 2005). Briefly describe each of these components and provide a real-world example of one component.
The sample mean of the accounts is found to be y-bar = $94.22, and the sample variance is equal to $455.21. Estimate mu and place a bound on the error of estimation.
Probability histogran curve of percentage of (P)z
Consider an experiment that results in a positive outcome with probability 0.38 and a negative outcome with probability 0.62. Create a new experiment consisting of repeating the original experiment 3 times. Assume each repetition is independent of..
Determine the probability that the project will be completed in 70 days or less.
A statistical analysis of 1,000 long-distance calls made from the headquarters of the Bricks and Clicks Computer Corporation indicates that the length of these calls is normally distributed with μ = 240 seconds and σ = 40 seconds.
The average monthly gasoline purchase for a family with 2 cars is 90 gallons. This statistic has a normal distribution with a standard deviation of 10 gallons. A family is chosen at random.
Select an activity you do on a regular basis (e.g., cooking a meal, cleaning the house, doing homework, etc.) and discuss how you could apply statistical quality control to improve the quality of the output of the activity you choose.
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