Assigning probabilities based on historical data

Reference no: EM1322897

Q1) Determine critical value t_cfor confidence level c= 0.80 an dsample size n=11

Q2) In random sample of 23 people, mean number of books they had read in past year was 11.93 books and standard deviation was 16.60 books. Suppose variable is normally distributed and use a t- distribution to create a 80% confidence interval for population mean µ. What is the margin of error of µ .

Confidence interval for population mean µ is?

Q3) Perfectly balanced coin is tossed 6 times and tails appears on all six tosses. Then, on seventh trial

i) Tails can not appear

ii) Heads has a larger chance of appearing than tails

iii) Tails has a better chance of appearing than heads

iv) None of these alternatives is correct.

Q4) Method of assigning probabilities based on historical data is known the

i) Classical method

ii) Subjective method

iii) Relative frequency method

iv) Historical method

Reference no: EM1322897

Questions Cloud

How can international marketing benefit domestic countries : Assuming you were setting up a market program for a product in a foreign country, what should you consider? How can international marketing benefit domestic countries?

Probability between the given values for normal distribution : Find the probability between the given values for normal distribution.

Some types and sources of channel conflict : What are some types and sources of channel conflict? What are some of the ethical considerations in channel relations?

Assume instead that the industry can sell any : Assume instead that the industry can sell any also all of its output at the fixed marketplace price of P = 120. Find out the industries optimal output.

Assigning probabilities based on historical data : Method of assigning probabilities based on historical data is known the?

Justify employment decision : You recently interviewed an African American candidate, but did not hire her. When she found out she did not get the job, she called the office and said she felt the hiring decision was discriminatory and she was considering taking legal action.

Standard deviation for the given probability : what will be the standard deviation of the share price if it is assumed that there is a 95% probability that the value will be at least 64?

What do economists mean that private goods tend : Illustrate what do economists mean when they say that private goods tend to be produced in the right amounts.

Declaring and intializing the array : Describe an ArrayList named taxRates of the five elements of type Double and initialize the elements (starting with the first) to the values 0.10 , 0.15 , 0.21 , 0.28 , 0.31, respectively.

User Account

All Pages