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Accident records given by an insurance company give the following information. The probability that an insured driver has an accident is 0.15. If an accident occurs, the damage to the vehicle amount to 20% of its market value 80% of the time, to 60% of its market value with probability 0.12, and a total loss with a probability of 0.08. What premium should the company charge on a $12,000 car so that the expected gain on the insurance is $100?
What factors might cause the company to order a larger or smaller amount than the EOQ?
Find the weighted mean of three test scores for a student (85, 90, 75) where the first test counts for 20%, the second test counts for 30%, and the third counts for 50% of the final grade.
Determine the critical path probability that project will be completed within?
Make a decision regarding the null hypothesis based on the sample information. Interpret the results of the test and state your conclusion.
The sales manager had predicted, before the business started, that year 1's sales would be 410 air conditioners. Using exponential smoothing with a weight of alpha = 0.30, develop forecasts for years 2 through 6.
Out of the 109 males, 42% preferred Pepsi and out of the 53 females, 40% preferred Pepsi. Pepsi wanted to test to determine if the males preferred Pepsi more than females.
Due to financial hardship, the Nyke shoe company feels they only need to make one size of shoes, regardless of gender or height. They have collected data on gender, shoe size, and height
Assume the body temperatures of healthy adults are normally distributed with a mean of 98.20°F and a standard deviation of 0.62°F (based on data from the University of Maryland researchers).
Compare a tabular cum sum chart using standardized values h = 5 and k = 1/2. What is the information you learn.
A random sample of 100 peaches is gathered and the mean diameter is calculated. What is the probability that the sample mean is greater than 3.79 inches.
Thirty-two samples of 8 items each were collected from a process. The average sample mean is 12 and the average range is 0.10.
List all corner points and determine which combination of items will produce the maximum profit.
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