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Medical Malpractice - An important issue facing Americans is the large number of medical malpractice lawsuits and the expenses that they generate. In a study of 1228 randomly selected medical malpractice lawsuits, it is found the 856 of them were later dropped or dismissed (based on data from the physician insures association of America). Construct a 99% confidence interval estimate of the proportion of medical malpractice lawsuits that are dropped or dismissed. Does it appear that the majority of such suits are dropped or dismissed?
How large sample should be selected in order to obtain p estimate with a bound of 0.08 on the error of estimation.
Suppose that a car rental agency offers insurance for a week that will cost $10 per day. A minor fender bender will cost $1,200 while a major accident might cost 10,000.
Find out sample correlation coefficients of (I) age with dry weight, and (2) age with log 10 dry weight. Interpret your results.
Need to come up with a regression model to forecast monthly sales of cold beverages for the next year. What variables might be included in the model?
Find the probability that one or more of the five parolees will be repeat offenders. (Round your answer to three decimal places.)
Develop a probability distribution for the number of travelers who plan their trips within two weeks of departure.
Comparing Computer Results. Refer to the Minitab display below. The probabilities were obtained by entering the values of n=6 and p = 0.0167.
The number of hurricanes that are formed during each hurricane season can be modeled using the Poisson probability distribution. History suggests that the average if number of hurricanes formed during a year is 6.0 hurricanes.
The summation sign is usually represented by:
200 people were surveyed and asked to rate mayor Michael Bloombergs effectiveness towards education. The rate scale is 1 (lowest) to 10 (highest). Mayor Bloomberg's average rating was 7.50, with a standard deviation of 2
Lauren Moore has sold her business for $500,000 and wants to invest in condominium units ( which she intends to rent) and land ( which she will lease to a farmer).
Solve different inventory control problems using an appropriate OR method.
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