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An urn contains w1 white and b1 black balls. A second urn contains w2 white and b2 black balls. A ball is selected at random from the first urn and placed in the second urn. Then a ball is selected from the second urn.
Find:
1. Probability that is it white.
2. Assume that the ball selected from the second urn is white. Find the probability that it came from the first urn.
a. what is the point estimate of the population mean? b. what is the point estimate of the population standard deviation?
For what value of t will the null hypothesis not be rejected?
A researcher claims that the average age of people who buy lottery tickets is 70. A sample of 30 is selected and their ages are recorded as shown below. The standard deviation is 16. At alpha = 0.05 is there enough evidence to reject the researche..
A researcher wants to know if there is a relationship between a person's highest level of education (IV) and differences in life satisfaction (DV).
What is the expected value (expected profit) of producing an all weather tire? Of producing a high performance tire?
Tthere is evidence that the two processes yield different average errors. Assume that the population standard deviations are equal. What is the null hypothesis?
We suggest that you use the graphical approach to CVP analysis to solve the following problem, but you may use any other method to find the answer.
The Price-to-Earnings ratio (P/E) of a publicly listed profit-making company is defined as the ratio of the stock price of the company to the earnings per share.
In 2001, an estimated 78% of executives believed that age bias was a serious problem. In a 2004, 82% of the executives surveyed considered age bias a serious problem.
Standard deviation of the population is 9 hours. Give the null and alternative hypotheses. Compute the test and p-value. Use a=0.01 to make your conclusion based on the p-value.
State the critical values for testing and what is the probability that this decision strategy will result in a Type I error?
The Manager of a seafood restaurant was asked to establish a pricing policy on lobster dinners. Experimenting with prices produced the following data:
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