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1. A group of day to day workers can work either 0 hours, eight hours or 12 hours at a pay rate of $9.75 per hour. (The 12 hour day pays regular time for the first eight hours and double time for the remaining four hours.) On any given day there is a 0.2 probability of not working at all, 0.7 probability of working an eight hour shift and a 0.1 probability of working a 12 hour shift.
a. What is the probability of working at least some of the time during a day?b. What is the expected amount of work per day?c. What is the variation in the expected amount of work per day?d. What is the expected pay per day?e. What are the expected earnings in a 5-day work week?
What is the probability that between 5 and 10 firms, inclusively, purchase a Unix machine from Sun Microsystems?
Pproportion who are sent to prison after pleading innocent and being found guilty? No, as the test value -1.96 is inside interval (-2.58, 2.58), No, as the test value -4.94 is outside interval (-1.96, 1.96).
The following estimated regression model was developed relating yearly income (Y in $1,000s) of 30 individuals with their age (X 1 ) and their gender (X 2 ) (0 if male and 1 if female).
Calculate expected number of interruptions per day. Calculate standard deviation.
What would you predict the price per share to be if 95 million shares were offered?
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.
The student newspaper on our campus was interested in binge drinking. For their article, they surveyed 50 fraternity members, and found they drink more than 5 drinks an average of 7 times per month.
A researcher demonstrated a correlation of r = 0.60 between teacher attire and student academic performance across 150 grade schools in her state.
Prepare a power curve for this decision rule
Describe the distribution of the x-bars that you see in part b (shape of distribution, center, and the amount of dispersion).
Assume the least squares equation is Y' = 10 + 20X. What does the value of 20 indicate?
Find out the mean sum of squares of the treatment in one way ANOVA.The profits of individual traders in three departments, labelled by A, B and C, in a medium sized firm were recorded on one day.
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