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A contractor is considering a sale that promises a profit of $34,000 with a probability of 0.7 or a loss (due to bad weather, strikes, and such) of $16,000 with a probability of 0.3. What is the expected profit?
Describe a different example of where the independent variable, while highly correlated to the dependent variable, does not cause the dependent variable to change directly.
There are 6 different factors labeled as A, B, C, D, E, and F. Given that D=AB, E=-AC, F=-BC, please provide the corresponding 26-3 design table. Also, please write down the complete defining relation and the complete effect alias structure.
What is the approximate permutation test P-value and What is the permutation test P-value for testing the equality of the means versus the hypothesis that the mean change for the treatment group is larger than the mean treatment for the control gro..
At the .01 significance level can we conclude the mean age is more than 8.4 years for the cars of university students? What is the p-value?
If the population mean is estimated within two days, how many salespeople should be sampled?
Say a fast-food franchiser is considering building a restaurant in a local mall. According to franchise headquarters, a site is acceptable only if the number of pedestrians passing the location averages more than 100 per hour.
Would it be reasonable to conclude that the population mean is 63 pounds?
The population of lengths of aluminium coated steel sheets is normally distributed with a mean of 30.05 inches and a standard deviation of 0.20 inches. A sample of four metal sheets is randomly selected from a batch. What is the possibility that t..
Set up the null and alternative hypotheses to test whether the proportion of MBA students who expect to stay at their first job five years or more is less than one-fourth of all U.S. MBA students.
A random sample of 72 statistics students was taken to estimate the proportion of students who are also in the Math Club. The 90% confidence interval was 0.438 to 0.642. Using this information, what sample size would be necessary to estimate the t..
At the time she was hired as a server, beth was told, "you can average more than $20 a day in tips." Over the first 35 days she was employed at the resturant, the mean daily amount of her tips was $24.85, with a standard deviation of $3.24.
Sample mean is 50, t-statistic is 1.96, and standard error of sample mean is 2. Determine the 95 percent confidence interval?
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