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A real world example of a unfavorable result in an experiment and what could have been done to avoid the outcome of the experiment?
Business Economics, Economics
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The probability that a regular scheduled flight departs on time is .83; the probability that it arrives on time is .82; and the probability that it departs and arrives on time is .78. Find the probabilty that a plane arr ...
According to the same National Collegiate Athletic Association data, the means and standard deviations of eligibility and retention rates (based on a 1,000-point scale) for the 2013-2014 academic year are presented, alon ...
What is asymmetric information and how does it affect the consumer or buyer?
Describe the difference between discrete and continuous variables. Why do we need two different statistical tests to determine if differences in proportions are statistically significant verses differences in proportions ...
The ABC movie theater has 300 seats. In a typical month, 25 percent of the seats are sold. The price elasticity is estimated to be -0.9. The price of a ticket is $8.00. The manager wants to increase the attendance to 30 ...
What is Equi-marginal principle? Why does it have to be true at interior optimum?
In a random sample of 50 ?refrigerators, the mean repair cost was ?$146.00 and the population standard deviation is ?$17.80. Construct a 90?% confidence interval for the population mean repair cost. Interpret the results ...
Many manufacturing problems involve the accurate matching of machine parts, such as shafts, that fit into a valve hole. A particular design requires a shaft with a diameter of 22.000 mm, but shafts with diameters betwe ...
A farm has two types of trees: 30% are orange trees (O) and 70% are apple trees (A). Frost (F) has damaged 40% of the orange trees (F|O)=0.4 and 10% of apple trees. What is the probability that a randomly selected tree w ...
If a low-income-undernutrition-low-income circle is possible in poor countries, why is it not possible for some groups of people in rich countries? (hint: demand and supply)
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