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Probability using Bayes theorem
An oil executive has determined that the probability that this oil field contains oil is 0.6. Before starting the drilling she decides to order a seismological test to see if there is oil in the ground. Unfortunately, the test is not entirely accurate. It concludes that there is oil with probability 0.9 if there is indeed oil in the ground. If there is no oil in the ground, it concludes so with probability 0.8. Suppose the test result come back positive (i.e., the test says there is oil in the ground). What is the probability that there is indeed oil in the ground given this test result?
Define Queuing and Process Simulation Modeling. Michael's Tire Company performs free tire balance and rotation for the life of any tires purchased there on a first-come, first-served basis
How to clarify a rotated conic section - how linear transformations can be used to study rotated conic sections. Your essay should include
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Find the distance between two ships from the word problem and From a lighthouse, the lighthouse keeper sees two ships
I want to prove that a population mean is not 150. Use an alpha of 5 percent & set up the full, detailed, five step hypothesis test. Suppose when the sample 200 is taken the sample standard deviation is ten & the sample mean is 151.77.
Evaluate the dimensions of the rectangle of maximum area that can be inscribed in a ellipse
Use Mad to compare simple moving & weighted moving average
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Formulate the above as linear programming problem. Solve (a) by graphical method. Solve using simplex method.
What are some of the benefits of being able to find the expected value of a probability distribution? Give an example of how this could be used your advantage in a business setting
Analysis of variance tests
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