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Consider a Poisson probability distribution with 2 as the average number of occurrences per time period.
a. Write the appropriate Poisson probability function.
b. What is the average number of occurrences in three time periods?
c. Write the appropriate Poisson probability function to determinate the probability of x occurrences in three time periods
d. Find the probability of 2 occurrences in one time period
e. Find the probability of 6 occurrences in 3 time periods
f. Find the probability of 5 occurrences in 2 time periods
Identify the indicated values or interpret the given display. In a survey of 703 randomly selected workers,
A cola dispensing machine is set to depense 9 ounces per cup with a standard deviation of .5 oz .THe manufacturer would like to set the control limits so that for samples of 16,
Recognize the given samples are independent samples or matched pairs.
A computer is used and it is found that the P-value = 0.0016. What can you state about the sample (independent or dependent) and what can you conclude about the evidence?
Given the following data, use exponential smoothing with a=0.2 and a=0.5 to generate forecasts for periods 2 through 6. Use MAD and MSE to decide which of the two models produced a better forecast.
Use normal approximation to determine probability that x = 2. Illustrate all work.
Use Excel and the data to test whether the mean alcohol expenditures for UCM students is equal to that of SBU students using a 1 % level of significance.
Is it true that one of the important properties of time series models is that some sort of pattern in the data over time should be detected first and then used within the model?
How might variance and standard deviation be applied to a real-world business-related problem? Provide a specific application in which these measures are useful.
The hypothesis is to be tested at the 5% level of significance. The critical value from the table equals:
The airline must sell 150 seats to break even on this particular flight. On what percent of the flights does the airline make money?
Based on these results, a confidence interval for the population mean is found to be μ = 5.7 ± 4.4. Find the degree of confidence.
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