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The total profit of a firm is given by
Profit = Total Revenue - Total Cost
Suppose that Total Revenue = 120Q and Total Cost = 20 + 50Q where Q, the quantity sold, is a (approximately) normal random variable with expected value 30 and variance 5. That is Q is N(30,5)
Describe which scale you would use to measure the following random variables. State reasons for your choice and whether sample scale values correspond to population values.
Recognize sample, population, sample statistic, and population parameter: Nasonex is the drug used to treat allergy symptoms.
Estimate: Price = ß0 + ß1 Sqft + ß2Beds + ß3Baths + e . Show the regression results in a well-formatted table.
What is the new posterior probability that the machine was adjusted properly?
1. How did the Tuskegee Airmen contribute to victory in World War II?
College admissions. For high school students graduating in 2007, college admissions to the nation's most selective schools were the most competitive in memory.
A single replicate of a 24 Exercise 10.2 factorial is run. The results in standard order are 1.106, 2.295, 7.074, 6.931, 4.132, 2.148, 10.2, 10.12, 3.337, 1.827, 8.698, 6.255, 3.755, 2.789, 10.99, and 11.85.
Calculate the average y and standard deviation y for each of the nine designs (recipes). What do you conclude from your analysis?
Can we conclude from this that most workers there earn between $25 and $35 per hour? Is this right interpretation for margin of error?
Utilizing a binominal experiment, that is each trail can be reduced to two outcomes, construct a binomial distribution.
a. What is the least squares prediction equation? b. Find R2 and interpret its value.
Would it be reasonable to conclude that the population distribution is Poisson with a mean of 2.0?
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