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An orange grower in Florida faces a dilemma. The weather forecast is for cold weather, and there is a 50% chance that the temperature tonight will be cold enough to freeze and destroy his entire crop, which is worth some $50,000. He can take two pos- sible actions to try to alleviate his loss if the temperature drops. First, he could set burners in the orchard; this would cost $5000, but he could still expect to incur dam- age of approximately $15,000 to $20,000. Second, he could set up sprinklers to spray the trees. If the temperature drops, the water would freeze on the fruit and provide some insulation. This method is cheaper ($2000), but less effective. With the sprin- klers he could expect to incur as much as $25,000 to $30,000 of the loss with no pro- tective action.
Compare the grower's expected values for the three alternatives he has, considering the various possible loss scenarios for the burners and the sprinklers. Which alternative would you suggest the grower take? Why?
Consequently, the consultants decide to test the null hypothesis ? ? 0 H : 33.7 . What is the value of the test statistic for testing this null hypothesis?
Draw a back-to-back stem-and-leaf plot, with drug users on the right and discuss similarities and differences between the two data sets. There should be three things you look at when comparing these - location, variation, and general shape.
please see attach file. you must show your workdirections this assignment consists of 8 parts of two chapter review
The 95% confidence interval for the mean of the sampling distribution of the mean is about:
It has been reported that 80% of taxpayers who are audited by the IRS end up paying more money in taxes. Assume that the auditors are randomly assigned cases and that one of the ways the IRS oversees its auditors is to monitor the percentage of ca..
the stats are related to past events. every person cannot perform 100 all of the time. they will have off days. those
Find out whether quality of items produced appears to be independent of production process used. Compute expected number of defective units produced by Process 1.
Only 40% of these eruptions last longer than 2 minutes. For each of the following random variables, write down the distribution and the PMF. (Identify all parameters) What are the expectation and variance?
What item/s can be deleted to improve reliability, what items should never be deleted to maintain reliability of data and how many items need to be deleted to achieve maximum reliability
Develop four probability questions using the table that you as an instructor of statistics might ask a class of students for a test in probability.
What is the new mean annual salary (including the bonus and raise) of the employees?
determine if the statement is a typical null hypothesis ho or alternative hypothesis ha. the average time to graduate
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