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A credit card bank is investigating the incidence of fraudulent card use. The bank suspects that the type of product bought may provide clues to the fraud. To examine this situation, the bank looks at the Standard Industrial Code (SIC) of the business related to the transaction.
This is a code that was used by the U.S. Census Bureau and Statistics Canada to identify the type of every registered business in North America.2 For example, 1011 designates Meat and Meat Products (except Poultry), 1012 is Poultry Products, 1021 is Fish Products, 1031 is Canned and Preserved Fruits and Vegetables, and 1032 is Frozen Fruits and Vegetables.A company intern produces the following histogram of the SIC codes for 1536 transactions:
Since 1997 the SIC has been replaced by the NAICS, a code of six letters.
He also reports that the mean SIC is 5823.13 with a standard deviation of 488.17.
a) Comment on any problems you see with the use of the mean and standard deviation as summary statistics.
b) How well do you think the Normal model will work on these data? Explain.
After reading the case, answer the following questions, using the table of collected data entitled, "Measurements taken from Neonatal Ward."
Calculate the correlation between decorating and Christmas enjoyment - Maximize Wayne's studying effectiveness.
We see the south take on a form of slavery referred to as chattel. Why did southerners feel they had to be harsh and cruel to their slaves?
1. an industrial engineer who is studying the clerical staffing of a physicians group practice must decide whether
The manager of the Gander Mountain store in Frogtown, IL, believes that his prices for ammunition are lower than the prices of his primary competitor in the hunting equipment market, Cabela's.
The data in Table 8.12 are a subset of the data obtained by Shen et al. (1970) in an experiment concerned with the hypothesis that diabetes mellitus is not simply a function of insulin deficiency and that perhaps insulin insensitivity could play a..
1. What are the uses of the multivariate normal distribution? Why is it needed? 2. How many discriminant functions may be found signi?cant in classifying an observation into one of four groups?
The width of a rectangular gate is 2 meters (m) larger than its height. The diagonal brace measures sqrt 6 m. Find the width and height.
The system of Advanced Problem AP 10.1 is required to have a percent overshoot less than 13% with a steady state error for a unit ramp input less than 0.125(Kv = 8). Design a proportional plus integral (PI) controller to meet the specifications.
If not what would be a better testing strategy? Could you form a Null Hypothesis or an Alternative Hypothesis? If yes, what would they be.
The input to a filter is a discrete-time zero-mean random process.- Find the autocorrelation function of the output.
count the number of sequences of 5 as 6 bs and 7 cs in which the first a occurs somewhere before the first
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