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The editor of a textbook publishing company is trying to decide whether to publish a proposed business statistics textbook. Information on previous textbooks published indicates that 10% are huge successes, 20% are modest successes, 40% break even and 30% are losers. However, before a publishing decision is made, the book will be reviewed. In the past, 99% of the huge successes received favorable reviews, 70% of the moderate successes received favorable reviews, 40% of the break even books received favorable reviews, and 20% of the losers received favorable reviews.
i) If the proposed textbook receives a favorable review, how should the editor revise the probabilities of the various outcomes to take this information into account?
ii) What proportion of textbooks receives favorable reviews?
We monitor the number of incoming calls into a doctor's office. Let X be the number of incoming calls between the hours of l pm and 2 pm and Y be the number of calls between l pm and 3 pm.
The Dean of Students believes that the costs are greater this semester. What is the test value for this hypothesis?
Listed below are the commissions earned ($000) last year by the sales representatives at the Furniture Patch, Inc.
The distribution of test scores is mui=35 and a standard deviation of 15. Do students taking the supplement have significantly better memory scores? Use a one-tailed t-test with an alpha=0.05.
Run a simple regression of the dependent variable demand on the independent variable price and observe the coefficient on price.
What information is provided by the sign (= or -) of the Pearson correlation? What information is provided by numerical value of the Pearson correlation?
What is the probability that an individual shopper spends between $17.25 and $21.60 on impulse buys?
Unacceptable bacterial contamination on 20 flights. (a) At α = .05, does this sample show that more than 10 percent of all flights have contaminated water? (b) Find the p-value.
Consider that measurement 2 (M2) in random sample of 1000 controls from the Disease Y study population follows the normal distribution.
In 2010, 65% of adult Americans thought that the death penalty was morally acceptable. In a poll conducted by the Gallup Organization, a simple random sample of 1005 adult Americans
If you were an auditor and observed more than 30% with improper documentation, what would you conclude about the firms claim that only 20% suffered from improper documentation and why?
Let p represent the proportion of registered voters in the state that would vote for the Republican candidate. The standard error for the proportion of those who phoned in who answered "yes" is
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