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An article in the Asia Paci?c Journal of Management discusses the importance for ?rms to invest in social ties.8 A company is considering paying $150,000 for social activities over one year, hoping that productivity for the year will rise. Estimates are that there is a 50% chance that productivity would not change; there is a 20% chance that the company's pro?ts would rise by $300,000; and there is a 10% chance of a rise of $500,000. There is also a 20% chance that employees will learn to waste time and that pro?ts would fall by $50,000. Construct a decision tree and recommend a course of action.
An appliance manufacturer is considering the purchase of a new machine for stamping out sheet metal parts. If μ0 (given) is the true average of the number of good parts stamped out per hour by their old machine and μ is the corresponding true unkn..
She chose the sample of 25 women who were recently married for first time and found average age was 23.5 years. Standard deviation was 3 years. Must null hypothesis be rejected?
It has been claimed that women live longer than men; however, men tend to be older than their wives. Ages of sixteen husbands and wives from England were obtained. The null hypothesis of equality of means is rejected. What conclusion can be made f..
In the real world, given null hypothesis is false; but the collected data lead to the null hypothesis being accepted. That is, the data lead to a failure to reject null hypothesis.
the following 10 observations of variables x and y were collected.x 1 2 3 4 5 6 7 8 9 10y 25 22 21 19 14 15 12 10 6
Assume there are 18 homes in the Quail Creek area and 9 of them have a security system. Five homes are selected at random: what is the probability all five of the selected homes have a security system?
a random sample of students was weighed after their first week of their first semester and weighed again after their
A precision parts manufacturer produces bolts for use in military aircraft. The specifications for bolt length are 37.50 ± 0.25 cm. The company has established an -chart and an R-chart using samples of size five.
The heights of adults in one town have a mean of 66.3 inches and a standard deviation of 3.3 inches. What can you conclude from Chebychev's theorem about the percentage of adults in the town whose heights are between 59.7 and 72.9 inches..
What then is the probability that a shaft will be acceptable? Suppose that the diameter of the shaft is a random variable that is Normally distributed.
The differences and similarities between descriptive and inferential statistics will also be examined with examples provided for each.
the cost of a college education has increased at a much faster rate than costs in general over the past twenty years.
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