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An insurance industry report indicated that 40 percent of those persons involved in minor traffic accidents this year have been involved in at least one other traffic accident in the last five years. An advisory group decided to investigate this claim, believing it was too large. A sample of 200 traffic accidents this year showed 74 persons were also involved in another accident within the last five years. Use the .01 significance level.
a. Can we use z as the test statistic? Tell why or why not.
b. State the null hypothesis and the alternate hypothesis.
Find out the probability distribution, and the cumulative probability distribution of car arrivals.
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Suppose the probability of the worst-case scenario increases Compute the expected value of perfect information
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Based on this sample information find out what percent of variation in starting salaries is described by GPA, and find out the equation that would forecast salary from GPA. Give a scatter plot.
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It is not unusual for a battery to have life span that is more than 2470 hours as the z-score is within 2 standard deviations of mean.
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Construct a 95% confidence interval for the average amount its credit card customers spent on their first visit to the chain's new store in the mall assuming that the amount spent follows a normal distribution.
The average hourly wage of employees of a certain company is $9.83. Assume the variable is normally distributed.
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