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If it costs $600 per car or truck to install seat belts and all people are required to use them when in the vehicle, what is the cost of each life saved if the use of a seat belt reduces the probability of being killed by 50%. Assume that 0.6 of the present 25,000 vehicle occupants killed in collisions were not wearing seat belts. There are about 170 million registered cars and trucks on the highway today.
Hint: The key point here is that the average car life is 10 years, and you must figure all quantities on a yearly basis in solving this problem.
The reason why we finish our calculation by dividing range by 4 is that in most data sets 95% of the data values fall within two standard deviations of the mean.
Create network for aerospace launch project below and determine its critical path.
What percentage of population scored between the mean and Jorge?
A four-year university has decided to implement new approach to teaching Statistics. Full-time and adjunct professors were surveyed to determine whether they preferred the traditional lecture approach or a computer approach to teaching Statistics.
Start rolling dice until a particular number, say 3, is obtained, and keep track of how many rolls are necessary. Repeat 100 times. Then find the average.
Identify a research question from your professional life, research interests, or everyday experience that could be addressed by this analysis.
According to the study, the mean age of a self-employed individual is 46.6 years with a standard deviation of 10.8 years.
Decision making using the Transportation method.
A chance sample of 50 families revealed an average or median of $112,000 and a standard deviation of $40,000. What is the standard error of the average or median?
Determine the critical path and project completion time.
Assuming that the Poisson distribution is a plausible model in describing variability of asbestos fiber counts in filters; derive a 95% confidence interval indicating the variability in the average number in asbestos fibers.
What is the numerical value of the sample proportion p^ ? The P-value is the probability of what event?
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