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Q1) Retail outlet gets radios from 3 electrical appliance companies. Outlet gets 20% of its radios from A, 40% from B, and 40% from C. Probability of getting a defective radio from A is .01; from B, .02; and from C, .08.
a) Create probability tree showing all marginal, conditional, and joint probabilities.
b) Create a joint probability table.
c) Find outs the probability that defective radio returned to retail store came from company B?
At 1 excavation site 8641 pot shards have been found that have not presently been cleaned also identified. Define the probability.
Using the EMV criteria (you wish to maximize expected profits in this case) determine what course of action that Optel should take. Make sure to state the best strategy in words.
Which are likely to be independent events? For those you think are not, suggest reasons why.
Determine the strength of the causal relationship between monthly sales and new home construction by using correlation.
To test this notion, eight paid volunteers were placed (individually) in a room in which there was no light from the outside and no clocks or other indications of time.
In a one-way ANOVA analysis of 3 treatments, with the total number of 9 observations, with an equal number of observations in each treatment, mean-square-error (MSE) was found to be 24.905.
At 95% confidence, test to determine if more than 21% of the population will like the new soft drink.
Assuming the sample size of 40 can be considered as large, compute the confidence interval for a confidence level of 90%.
Twenty three percent of automobiles are not covered by insurance. On a particular weekend, 35 automobiles are involved in accident.
Follow the conventions as described in the general guidelines for writing up Special Problems.
Interpret coefficient on log (salesm). If salesm were to be increased by 20%, what would be estimated change in mktgp? Would this effect be substantive?
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