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Find the Expected value of the perfect information for the given problem.
Given the following cost tree, what is the expected outcome?
5
$1,000
0.3
$500
0.2
($300)
$1,500
0.8
$300
The following is a payoff table giving profits for various situations.
Status of Nature
A
B
C
Alternative 1
120
140
Alternative 2
200
100
50
Alternative 3
180
Do nothing
0
What decision would an optimist make?
Find the probability that exactly 15 flights arrive on time.
Set up null hypothesis for associated F test.
Explain the effect outliers can have on the analysis of the center of this data set. Based on the box-plot and histogram you created for problem 1, do there appear to be any outliers?
Assume the researcher's rats can be considered an SRS from the population of all laboratory rats. The mean Math SAT score of these students is found to be 560, 80 points higher than the national average.
Give the Z- score cutoff (or cutoffs) on the comparison distribution at which the null hypothesis should be rejected
In a binomial distribution n = 8 and π = 0.2. Determine the probabilities of the following events.
Use a scatter plot to determine the relationship between the x values and the y values.
The Federal minimum wage is $7.25 (effective July 2009). If an employee earns the new minimum wage, how many complaints can that employee expect to receive?
Suppose the population standard deviations are not the same. At.05 significance level, is there a difference in mean waiting time?
When the non-parametric statistics utilized? Write down an example.
Determine z score corresponding to minimum height requirement and determine z score corresponding to maximum height requirement.
At the .05 significance level, can she conclude that there is a difference in the mean amount of weight loss among the three diets?
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