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Of a finance company's loans, 1% are defaulted (not completely repaid). The company routinely runs credit checks on all loan applicants. It finds that 30% of defaulted loans went to poor risks, 40% to fair risks, and 30% to good risks. Of the nondefaulted loans, 10% went to poor risks, 40% to fair risks, and 50% to good risks. Use Bayes' Formula to calculate the probability that a poor-risk loan will be defaulted.
Find the margin of error in estimating the population mean: confidence level = 94%; sample size=86; sample mean = 113.5; and standard deviation = 12.7.
let x be the damage incurred in in a certain type of accident during a given year. possible x values are 0 1000 5000
Calculate 95 percent and 99 percent confidence intervals for u(mean). Using the 99 percent confidence interval, can we be 99 percent confident that u(mean) is at least 42? Explain.
If you want to be 95% confidence of estmating the population mean to within a sampling error of +-4 and the standard deviation is assumed to be 10, what sample size is required?
a control chart for fraction nonconforming indicates that the current process average is 0.03. the sample size is
R.C. Geary wrote some 70 years ago that "Normality is a myth. There never was, is, nor will there ever be a Normal distribution".
a residential heat pump with a coefficient of performance of 2.2 delivers energy to the dwelling at a rate of 23 kw.
What is the probability that the mean breaking strength of the 3 untreated specimens is at least 25 pounds greater than the mean strength of the 3 treated specimens?
The faculty members at Boise State University were surveyed on the question "How satisfied were you with the Summer 2002 Schedule?" Their responses were to be categorized as "very satisfied," "somewhat satisfied," "neither satisfied nor dissatisfi..
is there a relationship between gender and the type of car driven? a random sample of 1000 adults was obtained. the
Using a 95% confidence interval, estimate the minimum difference between the mean postexposure attitude score and the mean preexposure attitude score. (Round your answer to 2 decimal places.).
statistics use samples of a population rather than the population itself. this makes the outcome of the test an
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