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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?
Suppose that a new law requires every firm to provide its workers with free parking spaces. These spaces are worth $200 per year to workers, but cost firms $500 per year to provide
A hypothetical radioactive isotope hass a half-life of 10,000 years. if the ration of the radioactive parent to stable daughter product is 1:3, how old is the rock containing the radioactive material?
Suppose you spot two species of birds feeding side by side, eating seeds from the plant. You begin to wonder whether competition is at work. Describe how you might design scientific research to address this question.
The Circular Flow diagram is model of how the economy works. Explain how the model would change if the following events ocurred:Households increase savings.
Explain the effect that the current unemployment rate may have on yourclientele in the next couple of months and how it could affect your area's overall economic growth
Why do scientists consider invasive species to be a problem? What makes a species "invasive" and what ecological effects can invasive species have?
If in fact Ptolemy had been correct that the Earth does not rotate on its axis, and if he knew the moon was at least 300,000 kilometers from the Earth, then how fast would he have known that the moon was moving around the earth?
The HHI for automobiles is 2,350, for sporting goods is 161, for batteries is 2,883, and for jewelry is 81. Which of these markets is an example of monopolistic competition?
List the scales of atmospheric motion from largest to smallest and give an example of each. From what you know about the various types of wind systems, are the size and duration related?
Subjective definition of probability is:Select one:A. a weighted average of different peoples' degrees of certainty of an event's occurringB. a theoretical probability distributionC. a person's degree of certainty of an event's occurringD. an expecte..
If statistically significant, do you think the difference is large enough to be important?
From time to time, one branch office of a company must make shipments to a certain branch office in another state. There are three package delivery services between the two cities where the branch offices are located.
In the study of fingerprints, an important quantitative characteristic is the total ridge count for the 10 fingers of the individual.
Are the data sufficient to that the herb has a significant effect on memory? Use a two-tailed test with α = .05.
Suppose that the actual mean value in the population is mu =120 , what is the probability of a Type II error (incorrectly accepting a false null hypothesis)?
The speeds of all vehicles have a bell-shaped distribution with a mean of 72 mph and a standard deviation of 3 mph. Using the empirical rule, find the percentage of vehicles with the following speeds on this section of I-95.
Jones Nissan in Sumter, South Carolina, sold 15 Nissans yesterday. What is the probability that exactly 0 vehicles require warranty service?
Several factors influence the value obtained for a t statistic. Some factors affect the numerator of the t statistic and others influence the size of estimated standard error in the denominator.
If one invested in Stock A, Determine standard deviation of percentage return?
a bank has the following data on the gender and marital status of 200 customers: single 20 male 30 female, married male 100 female 50,
At a certain university, the average cost of books per student was $330 per student last semsester. In a sample of 50 students this semester, their average cost was $355 with a standard deviation of $85.
Create the 95% confidence interval for portion of respondents who feel president is doing a good job. Based on the intervalin part(a), It is sensible to conclude that majority.
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