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1) What is the relationship between descriptive statistics and Affirmative Action ?
2) Can using probability in market trending decisions lead to a bad decision? Explain?
3) How do insurance companies use descriptive statistics and probability distributions to project health and auto insurance premiums? In regards to age, why is there an inverse relationship between the two premiums?
Over the past 30 years in the United States, there has been a strong negative correlation between the number of infant deaths at birth and the number of people over age 65. What lurking variables might be causing the changes in each of the variabl..
Entities arrive at single-server queuing system at average of 4 per hour and server can service average of 5 per hour. Mean in the queue is?
Consider that you are a line manager in your current Corporation. There is a 0.50 probability that you will be promoted this year. There is a 0.65 probability that you will get a promotion or a raise. The probability of getting a promotion and a r..
John conducted his study to measure self-esteem among victims of domestic violence before and after they complete an 8-week program for abuse victims with 10 individuals. He calculated t = 1.9 from his data.
A standard for full credibility of 1,000 claims has been selected so that the actual pure premium will be within 10% of the expected pure premium 95% of the time. The number of claims has the Poisson distribution. Determine the coeffcient of vari..
Many educators feel their grades should fit a normal distribution and often apply curves to make them fit one. One way to do this is to convert numeric grades to z scores using the mean and standard deviation for the grades, then use an equation s..
Average Precipitation For the first 7 months of the year, the average precipitation in Toledo, Ohio, is 19.32 inches. If the average precipitation is normally distributed with a standard deviation of 2.44 inches, find these probabilities.
Suppose the assembly times follow normal distribution. Find out z values for 29 and 34 hours. What percent of garages take between 32 hours and 34 hours to erect?
Determine the test value? Use α = 0.05. (Use the variances unequal formula).
The project requires you forecast the historical data, replicating the appropriate trends, seasonalities, week-over-week variability, etc. Please refer to the chapter and materials on Forecasting for the procedures to do.
Following data represent random sample of bank balances for population of checking account customers at large eastern bank. Based on data, determine the 95 percent confidence interval estimate for true population mean?
Set up a null and alternative hypothesis to test whether this sample is falling below expectations.
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