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Why is using Bayes' theorem important to help answer business-related questions? What does this theorem allow you to do that traditional statistics do not? What are some prerequisites for using Bayesian statistics?
What is the break-even cost? What is the profit for 75 units of feed sold? How many units must be sold to produce a profit of $1020?
A stock price is currently $100. Over each of the next two three-month periods it is expected to increase by 10% or fall by 10%. Consider a six-month European call option with a strike price of $105.
According to a recent survey, 275 of 400 middle-aged Americans said they used the Internet regularly. 140 of 400 senior citizens said they used the Internet regularly.
The probability that average amount of purchase per weekend from Sam's sample is greater than average amount of purchase per weekend from Katie's sample =
A start-up publishing company estimates that the fixed costs of its first major project will be $190,000, the variable cost will be $18, and the selling price per book will be $34.
Determine the mean and the standard deviation of the sample.
The sameple you found that 114 of those adults sampled over the age of 24 smoke. Develop a 95% condience interval for the current porportion of adults over the age of 24 who smoke.
The average hourly wage of workers in a fast food restaurant is $5.85 with a standard deviation of $0.35. Assume that the distribution is normal.
Test the claim of the brewery about the mean volume equal to 32 oz. at the 0.05 significance level. It's your choice whether to use z or t.
Assume that the population is normally distributed. Can we conclude, at the level of significance, that the mean lifetime of light bulbs made by this manufacturer differs from months?
In a sample of 476 adults selected randomly from one town, it is found that 9 of them have been exposed to a particular strain of the flu. Find the Pvalue for a test of the claim that the proportion of all adults in the town that have been exposed..
It is believed that the range of hourly wages paid to auto mechanics in a large city is $9 (range approx. = 4sigma-squared). If we assume that hourly wages are approximately normally distributed,
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