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Give an example of a good decision that you made in the face of some uncertainty. Was the outcome lucky or unlucky? Can you give an example of a poorly made decision whose outcome was lucky?
1. Explain how modeling is used in decision analysis. What is meant by the term "requi site decision model"?
2. What role do subjective judgments play in decision analysis?
3. At a dinner party, an acquaintance asks whether you have read anything interesting lately, and you mention that you have begun to read a text on decision analysis. Your friend asks what decision analysis is and why anyone would want to read a book about it, let alone write one! How would you answer?
The 97.5% CI for mean changes in Group B minus mean change in Group A is (-4.7 to -0.9). Suppose we want to compute a two-sided p-value to compare the two groups.
The difference between a random variable and a probability distribution is: A. A random variable does not include the probability of an event. B. A random variable can only assume whole numbers
bev can either take a course in computers or in chemistry. if bev takes the computer course then she will receive an a
Car Emissions: Listed below are measured amounts of greenhouse gas emissions from cars in three different categories. The measurements are in tons per year, expressed as CO2 equivalents.
Find a 99% confidence interval estimate of the proportion of people who say that they voted.
The random variable "x" is the number of times he wins in 20 attempts at the game. Find the mean and std dev. for this experiment.
How many participants must be enrolled in the study? Assume that the standard deviation of total cholesterol is 18.5.
what is the probability that at least 2 of the presidents of the united states have died on the same day of the year?
Three companies are attempting to sell you a pollution reduction additive to your chemical waste. Given limited resources, which prevents you from developing the additive yourself, you get each company to give you a sample to the product.
Accepted characters: numbers, decimal point markers (period or comma), sign indicators (-), spaces (e.g., as thousands separator, 5 000), "E" or "e" (used in scientific notation). NOTE: For scientific notation, a period MUST be used as the decimal..
What size sample would be required to estimate the proportion of unemployed college students if we want the margin of error not to exceed 3 percent?
A sample of 32 auction prices of grandfather clocks, along with their ages and the number of bidders, is given below.
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