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Suppose you work for a company that manufactures electronics. The development analysts estimate that 2% of their flagship product will fail after the original warranty period but within 2 years of the purchase, with a replacement cost of $1500.
How much should they charge for a 2 year extended warranty so that they will still make money selling the extended warranties in the long run and keep the cost of the warranties as low as possible to make them more marketable?
Write up your proposal to the VP of marketing and promotions with enough explanation that someone from our class could understand it.
A researcher plans to compare two treatment conditions by measuring one sample in treatment 1 and a second sample in treatment 2. The researcher will then compare the scores for the two treatments. If there is a difference between the two groups o..
Find a 90% confidence interval for the population average µ of the percentage of hospitals providing at least some charity care.
Assuming 12=22, use a significance level of =.05 test to the null hypothesis H0: 1 - 2 = 0 against the alternative H1: 1 - 2 > 0. Does the test reject H0?
Whose characteristics can be assume to be independent of each other, were examined. Let X denotes the number of defective computer chips.
Assume that another counselor decided to extend the aforementioned study by collecting data on 14 children. His study yielded the following results:
You are preparing a report to present to the Public Health Council on the declining rates of gonorrhea in your state in both men and women over the last 10 years.
Briefly discuss a real-world example when the solution of a system of inequalities must be in the first quadrant?
Their average age was 19.1 years with a standard deviation of 1.5 years. What is the best point estimate for the population mean?
A real estate builder wishes to determine how house size (house) is influenced by family income (income), family size (Size) and education of the head of household (School).
Six groups of randomly selected students matched for IQ and age were formed. Each student was taught a concept of time by using one of three methods: Lecture, demonstration
Identify and briefly describe an important process in your workplace, including selection of one key quantitative variable, that you (and others in your organization) consider an important metric for how well the process is functioning.
What is a Wilcoxon-Whitney Test and when is it used? I am not sure when to use the Wilcoxon-Whitney Test and what it is testing.
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