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Do you try to pad your insurance claim to cover your deductible? About 40% of all U.S. adults will try to pad their insurance claims. Suppose that you are the director of an insurance adjustment office. Your office has just received 128 insurance claims to be processed in the next few days. What is the probability that
a. half or more of the claims have been padded?
b. Fewer than 45 of the claims have been padded
c. From 40 to 64 of the claims have been padded
d. More than 80 of the claims are not padded
Does the variability in output appear to differ at the two experience levels? Test the hypotheses at the .05 significance level.
According to the U.S. Census Bureau, the mean household income in the United States in 2000 was $63,091 and the median household income was $50,054.
Explain how we test independent against dependent variables in a regression analysis? What's the set up? How are regression analyses often misused / misinterpreted at work or in the news? Cite an example.
Create a 95% confidence interval for population proportion of positive drug tests.
At a college, 70 percent of the students are women and 35 percent of students receive grade of C. About 20 percent of students are neither female nor C students. Use this contingency table.
Build regression models for predicting house prices. We will be using data collected on 91 houses in Gainesville, Florida. The dataset contains the selling price of each house and information on four other explanatory variables.
Find the margin of error for the estimator in this survey for a 95% level of confidence . In part c, what does the 95% level of confidence imply in relation to the margin of error?
The lifetimes of light bulbs of a particular type are normally distributed with a mean of 370 hours and a standard deviation of 5 hours. What percentage of bulbs has lifetimes that lie within 1 standard deviation of the mean on either side?
Suppose that the number of cars, X, that pass through a car wash between 4:00pm and 5:00pm on any sunny Friday has the following probability distribution:
A survey covering 0 different suburbs in Dallas found the average price of gasoline to be $3.924 per gallon with a population standard deviation of $0.053. What critical value shoiuld be used to test the claim using a = 0.01?
A defective picture tube was discovered in the latest shipment. What is the probability that it came from Tyson Wholesale?
Household income does not tend to follow a normal distribution in a particular state, yet average income is approximately $45,000/year in this state, with a standard deviation of about $9000.
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