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A newstand operator buys the Sunday edition of the WA post for $1.00 per copy and sells it for $1.50. The demand distribution for the Sunday edition over the last 100 weeks has been:
Number Requested Relative Frequencyless than 40 040 0.0241 0.0442 0.0743 0.144 0.1245 0.1346 0.1447 0.1248 0.149 0.0850 0.0551 0.0252 0.01over 52 0
a. Assuming that any newspaper left over has no value and that running short has no effect on any customer's tendency to return, determine the losses due to understockting and overstockting.
b. Based on the info from a determine how many copies should be stocked. Use incremental analysis.
c. If any newspaper left over could be sold to a fish market for .10 per copy how many copies should be stocked.
The average speed of greyhound dogs is about 18.8 meters per second. A particular greyhound breeder claims that her dogs are faster than the average greyhound. In a sample of 45 dogs, they ran, on average, 19.2 meters per second with a standard de..
Now assume that θ2 > 0 (with probability 1), and let δ1 hat be the Bayes estimator of 1/θ2 under the setup above. Show that δ1δ2 hat is the bayes estimator of θ1/θ2 , given x = (X1, X2).
What is the probability that if you randomly select a student on campus, this is student is male OR majoring in business?
It is estimated that the probability that the general population will live past their 85th birthday is 5.4%. Use the standard normal distribution to approximate this Binomial problem and answer the following questions.
The following is a case-control study: Obtaining histories and other information from a group of known cases and from a comparison group to determine the relative frequency of a characteristic or exposure under study.
A normal population has a mean of 75 and a standard deviation of 5. You select a sample of 40. Compute the probability the sample mean is:
This is an example of a Binomial probability experiment; This is neither a Poissonnor a Binomial probability experiment; Not enough information to determine the type of experiment.
Data from the Motor Vehicle Department indicate that 80% of all licensed drivers are older than age 25. In a sample of n=60 people who recently received speeding tickets, 38 were older than 25 years and the other 22 were age 25 or younger.
A manager of a small store wanted to discourage shoplifters by putting signs around the store saying "Shoplifting is a crime!" However, he wanted to make sure this would not result in customers buying less.
Assuming that the variability is unchanged (i.e., σ = 6), is there sufficient evidence to suggest that the strength of the product has increased at the 1% level of significance?
Use this information to make a 95% confidence interval to evaluate true average number of copies made each day at this company.
Let x be average number of employees in group health insurance plan and y be average administrative cost as percentage of claims. Determine sample correlation coefficient.
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