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An investor is considering 4 investments, A, B, C and leaving his money in the bank. The payoff from each investment is a function of the economic climate over the next 2 years. The economy can expand or decline. The following payoff matrix has been developed for the decision problem. What is the opportunity loss when "A" is Investment alternative and "Decline" is state of nature?
The mean amount purchased by a typical customer at Churchill\'s Grocery Store is $23.50 with a standard deviation of $5.00. Assume the distribution of amounts purchased follows the normal distribution. For a sample of 50 customers, answer the foll..
Are the events "Republican" and "30-44" independent? Justify your answer. Are the events "Democrat" and "65+" independent? Justify your answer.
Use descriptive statistics to explain how parental involvement and interests in child's education can impact on educational attainment measured in terms of their numeracy (v24_7), literacy (v28_7) and creativity skills (v25_7 and v26_7)
The Quick Change Oil Company has a number of outlets in the Seattle area. The daily number of oil changes at outlet in past twenty days are:
Insurance policy from company A costs $300 a year but guarantees to replace any losses due to theft. Create the decision tree.
This morning the office you are monitoring has eight office visits on the schedule. What is the probability that
Graph the distribution using a histogram. Calculate the mean and standard deviation.
If statistically significant, do you believe the difference is large enough to be significant? If so, to whom, and explain why? Is normality assumption fulfilled? Describe.
A processor of carrots cuts green top off each carrot, washes the carrots, and inserts six to a package. Twenty packages are inserted in a box for shipment. To test weight of the boxes, a few were checked.
To evaluate average annual expenses of students on books and class materials sample size 36 is taken.
Determine the probability that: a) Exactly 3 will have this mild side effect.
In comparing the two variances below, what is the test value and what are the degrees of freedom that should be used?
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