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A light-bulb manufacturer advertises that the average life for its light bulbs 900 hours. A random sample of 10 of its light bulbs resulted in the following lives in hours. At the 10% significance level, do the data provide evidence that the mean life for the company's light bulbs differs from the advertised mean?
Give the null and alternate hypotheses.
Also the critical value, test statistic, does evidence support or not support.
Suppose you have been offered chance to participate in a Treasure Hunt game whose rules are as follows. There are 3-colored boxes: red, green and yellow.
A worker faces a review every year. He prefers to spend time making if he will be reviewed; otherwise he would prefer to use time somewhere else.
A supplier and a buyer, who are both risk neutral, play the following game, The buyer’s payoff is q^'-s^', and the supplier’s payoff is s^'-C(q^'), where C() is a strictly convex cost function with C(0)=C’(0)=0. These payoffs are commonly known.
While grading in a final exam, an economics professor found that two students have virtually identical answers. She is convinced two cheated but cannot prove it.
Suppose you are planning entering a market serviced through a monopolist. You currently receive $0 economic profits, while monopolist receives $5.
There is 0.02% probability that a credit card holder of a company reports the loss or theft of the credit card each month. The company has 15,000 credit cards in Memphis. Use the Poisson distribution to answer the following questions.
Construct a 90% confidence interval for the population average weight of the candies.
Test the hypothesis that random variable 30.4 31.2 30.8 29.9 30.4 30.7 29.9 30.1 come from a normal distribution with mean 30.5. The standard deviation of the measurements is known to be 0.1
National polls are often conducted by asking the opinions of a few thousand adults nationwide and using them to infer the opinions of all adults in the nation. Explain who is in the sample and who is in the population for such polls. Please use a ..
Use the given payoff matrix for a simultaneous move one shot game to answer the accompanying questions.
The Candle Company and the Wick Corporation are the only manufactures of a very sophisticated type of flammable material.
In a public opinion poll, 48% of 189 respondents favor an elimination of taxes on dividend income.
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