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As part of his review for a chemistry test, a student randomly selects (without replacement) 40 out of 102 elements listed on the standard tables, and tries to guess their atomic numbers. Given that the mean of all 102 atomic numbers is 51.794, and the population standard deviation is 29.804, what is the probability that the mean of the 40 atomic numbers selected by the student will be at least 57.3?
In what sense is this business problem? A societal problem? An individual problem?
Use a decision tree to describe the possible strategies and the consequences (or payoffs) of each. Show your decision tree.
In the solution to this problem, what is n? p? q? Does it appear that both np and nq are larger than 5? Why is this an important consideration?
Looking at the data, the manufacturer is incorrect in its label claim. Perform hypothesis testing to prove or disprove it. Is the manufacturer correct in its label claim? Explain.
You play a game with two possible outcomes. Outcome A has probability 0.4 and outcome B has probability 0.6. When B occurs you win $2.00; otherwise, you lose $1.00. What is your expected value for this game?
Find the Probability and inverse probability for the given Normal distribution.
To test whether or not there is a difference between treatments A, B, and C, a sample of 12 observations has been randomly assigned to the 3 treatments. You are given the results below.
Compute Pearson's correlation coefficient between age and amount spent on this particular product.
Give the Z score for person who scores (a) 340, (b) 310, and (c) 260. Give the raw scores for persons whose Z score on this test are (d) 2.4, (e) 1.5, (f) o, and (g) -4.5
Find out the mean, median and mode for the given data
Create a scatterlpot of P_RFM and P_HELM. If drawing plot by hand, use graph paper to make sure accuracy. Be sure you label axes. After you have created the scatterplot, consider its form and direction. Recognize outliers, if any.
Using Chi-square table finding the P-value and interpret the result
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