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A consulting firm has to make a decision concerning bidding on a major project that has a projected profit for the firm of $100,000. Engineers for the firm estimate that they have about a 20% chance of receiving the contract if all the work on the proposed bid is done in-house. An outside consultant could be hired to help prepare the bid, which would increase the probability of success in being awarded the contract to about 50%. The outside consultant would cost $20,000. Using a decision tree, determine what action the firm should take.
A random sample of 346 individuals is selected, and the individuals are classified according to their smoking habits and the smoking habits of their parents. The results are given in the contingency table below.
Studies from a local mall show the typical shopper spends 0.75 hrs shopping. the standard deviation is 0.10 hours. A sample of 45 shoppers revealed the mean time spent increased to .080.
Using the .10 level of significance, can we conclude that the assembly time using the new method is faster?
The Web-based company Oh Baby! Gifts has a goal of processing 95 percent of its orders on the same day they are received. If 485 out of the next 500 orders are processed on the same day
He continues this until he draws a number that is less than the comparison value, at which point he continues his interrogation. If he draws a 3 as the comparison value, what is the expected number of lashes you will receive for that question?
1.a company makes molded plastic toys. they study the plastic injection process into the molds. a common cause of
suppose you are given data from a survey showing the iq of each person interviewed and the iq of his or her mother.
What is the value of z score required for a 70% confidence interval?
On a test, a sample of 5 students has a mean score of 78. The scores of four students of them are: 87, 81, 76, 53. Find the test score of the fifth student and standard deviation of this sample.
question 1 a sample of 2000 licensed drivers revealed the following number of speeding violations.number of
Determine the sample size necessary to estimate a population mean to within 1 with a 90% confidence given that the population standard deviation is 10.
In a random sample of 512 parents with young children, 275 admitted to spanking their child as a regular form of punishment. Use the classical approach, at a 10% level of significance, to test the sociologist's claim.
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