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The prizes that can be won in a sweepstakes are listed below together with the chances of winning each one: $5900 (1 chance in 8600); $2700 (1 chance in 5000); $600 (1 chance in 4800); $200 (1 chance in 2500). Find the expected value of the amount won for one entry if the cost of entering is 52 cents.
Assume we interested in relationship between the age of individual, as measured by visits. Suppose after selecting 15 members the observation:
Estimate the probability that the machine will overflow an 8 oz cup.
The professor wishes to use a random-number table to determine which letter choice should correspond to the correct answer for a question.
Discuss the subject matter in the article, and interpret the results and what the confidence interval and margin of error mean as they apply to the specific subject matter.
Compare the differences of Simple random sampling & Cluster sampling using specific examples, and show the pros and cons of each method.
In what areas of your business is it important to draw inference? Describe a time when drawing an inference may have hurt your business.
Suppose you want to test the hypothesis that students who study one week before score different from students who study the night before. A 2 sample t-test test is run based on your data and a p-value is calculated to be 0.0219. What is the approp..
Can the formal hypothesis testing approach be used for non parametric tests? How are parametric and nonparametric statistics different?
What sample size is need if the agency wants to be 90% confidence of being correct to within +/- 5 minutes? if 90% is desired, how many listeners need to be selected?
The average shaft size for the E300 electric motor is .55 inch, with a standard deviation of .10 inch. It is normally distributed. What is the probability that a shaft selected at random will be between .55 and .65 inch?
Determine the test value? Use α = 0.05. (Use the variances unequal formula).
Compute a value V that enables us to state, with 90 percent confidence, that population variance (sigma^2) is less than V.
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