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A construction company is planning to bid on a building contract. The bid costs the company $1600. The probability that the bid is accepted is 1/10. If the bid is accepted , the company will make $36000 minus the cost of the bid. What is the expected value in this situation?
Lead-time demand is 600 pounds. The standard deviation of lead time demand is 52 pounds. Supposing the lead time demand is normally distributed and that an acceptable risk of stocking out is 4%:
Identify the null hypothesis, alternative hypothesis, test statistic, p-value or critical value, and the conclusion about the null hypothesis. Use the P-value method.
The data presented in the table below resulted from an experiment in which seeds of 5 different types were planted and the number of seeds that germinated within 5 weeks after planting was recorded for each seed type.
Do the data provide significant support for any preferences among the three brands? Test At the .05 level of significance.
Create and attach a normal curve to this document with the following elements: the normal curve, a label of the average number of shoppers, and labels for the sample means of 441 and 446 shoppers. Include all the appropriate symbols.
A combination of content and supportive examples would be greatly appreciated.
What would be the correct null and alternative hypothesis for the following situation: The sample has a mean of 72.3 mph and a standard deviation of 7.4 mph. Use a 0.05 significance level to test the claim that the mean speed of all cars is greate..
If an apartment is selected at random, what is the probability that it is not a 2 bedroom apartment on the 2nd floor?
The manufacturer of the ColorSmart-5000 television set claims that 95 percent of its sets last at least five years without needing a single repair.
Determine the optimum solution for the problem.
Critically discuss some concepts behind variance analysis? Why is it important to test for variances in your data? Explain. How is variance analysis used in health care administration?
He would like 95% confidence intervals for the average price people would be willing to pay: one for the higher-income group, one for the lower-income group.
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