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"The city of Rulertown consists of the unit interval [0,1]. Rulertown needs to determine where to build the city's only firestation. It knows that for a small Delta X, the probability that a given fire occurs at a location between x and delta x is 2x(delta x). Rulertown wants to minimize the average distance between the fire station and a fire. Where should the fire station be located?
Deductible with a $580 premium. (A $Y deductible means the insurance company pays X - Y for X >= Y and X for X
Change the last number in that set from 36 to 14 and recalculate the confidence interval. Using the results, describe the effect of an outlier or extreme value on the confidence interval.
A random sample of 200 people was taken. Sixty percent of the people favor President Obama. The 95% confidence interval for the true population of people who favor Obama is?
Is the sample size large enough to construct a valid confidence interval for the proportion of debit cardholders who have used their card in making purchases over the Internet?
Scores are normally distributed with a mean of 460 and standard deviation of 80. The top 2.5 percent of the applicants would have a score of at least.
State the decision rule. Compute the pooled estimate of the population varaince. Compute the test statistic
Determine the critical value. Using the critical value rejection rule, what is the statistical conclusion?
The z-score of 1.33 tells you that Eric's time to get to work is 1.33 standard deviations from the mean.
Six houses were selected and each appraiser provided an appraisal for each of the six houses. What would be the best statistical test to use for the analysis of this data?
Calculate the probability that fewer than half of the patients are chain smokers. b) suppose that 20 patients with lung cancer are admitted to the hospital.
Two models of a product - Regular (X) and Deluxe (Y) - are produced by a company. A linear programming model is used to determine the production schedule.
Test the hypotheses that the average household income in the township is greater than $100,000. Hint: Start by stating the null and alternative hypotheses.
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