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The managers of NOVA Constructions are considering to buy a patent of a latest mixing plant and there objective is to maximize profit. ALLCO Engineers designed and developed the new Robotic Mixing Plant and offered its patent to NOVA. To keep it simple if NOVA accept this deal, the average net contribution to profit during product life cycle (estimated 5 years) of the new Robotic Electrical mixing Plant is estimated to be $154 million, $61.20 million and -$65.42 million for high, moderate and low market condition respectively.
Marketing department of NOVA constructions also estimated that there is a 16% probability that market will be high, 62% probability that the market will be moderate. If they didn't go for the patent deal and invest same amount of money what they have to pay for patent another alternate can contribute 28.04 million profit for the same period (i.e. estimated 5 years)
Draw the complete decision tree and determine whether the product should be launched or not.
One advantage of the repeated measures ANOVA is that it eliminates "individual differences" as a source of variability. Explain why there are no individual differences in the numerator and in the denominator of the F ratio.
Out of forty students, 14 are taking English Composition and 29 are taking Chemistry. If five students are in both classes, how many students are in neither class? How many are ineither class?
Explain in your own words why the test statistic for Goodness-of-Fit is similar to the calculation for Population Standard Deviation.
Recognize the midpoint of the first class. Recognize the class boundaries of the first class.
If the top 15% of the test scores are usually good enough for admission to law school, find the cut off score for gaining admission.
A bowl with 10 marbles: 2 red marbles, 3 green marbles, and 5 blue marbles. We randomly select 4 marbles from the bowl, WITH REPLACEMENT, that is once a marble is selected, its color is noted and the marble is put back in the bowl (notice this doe..
Explain what the coefficient of determination, R^2 (R-squared), measures. How is it related to the sample correlation coefficient?
A researcher wants to estimate the average time (in minutes) spent in a car daily. This will be done by randomly surveying 300 individuals and calculating the sample mean.
The owner of Britten's Egg Farm wants to estimate the mean number of eggs laid per chicken. A sample of 20 chickens shows they laid an average of 22 eggs per month with a standard deviation of 2.03 eggs per month.
An experiment was carried out to assess the effects of four tomato varieties and four planting densities on yield. There were 64 plots, and each of the 16 factor combinations was randomly assigned to 4 plots.
Determine the mean and the standard deviation of the sample.
Use Hypothesis testing to determine if Dr. Boom is correct, that his sample of 25 rockets weight less than the average rocket.
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